Zamečník: without intervention, Czech growth rate could fall by up to two percent

Meanwhile, economic adviser to the government Miroslav Zamečník said on Sunday that he thought economic growth could fall by up to two percent if the state did not intervene. Speaking on TV station Prima, Mr Zamečník said that this would be the worst growth rate the country had experienced since 1993. Mr Zamečník is preparing a fiscal stimulus package with other leading Czech economists as part of the NERV committee advising the government. In the interview, the economist identified two major reasons, why, he said the Czech economy was faltering. Firstly, he said, a sharp drop in the number of foreign contracts was harming industry, and secondly, a nosedive in the number of foreign tourists visiting the country was hurting the service industry.

Author: Rosie Johnston