facebook
twitter
rss
account
search
search
 

Czech Republic sees GDP growing 3.8 percent

Oct. 26, 2004 at 10:11 AM   |   Comments

PRAGUE, Czech Republic, Oct. 26 (UPI) -- The Czech Finance Ministry said Tuesday it expected economic growth in 2004 to be 3.8 percent, falling to 3.6 percent in 2005.

The new figures reflect increased optimism about the development of the Czech economy which grew 4.1 percent year-on-year in the second quarter of this year. The finance ministry's previous forecast for 2004 economic growth was 3.1 percent. For 2005 it had expected growth of 3.2 percent.

The finance ministry also said it expected average inflation this year of 2.9 percent, rising to 3.3 percent in 2005. Expectations of a pick up in inflation have led the central bank to warn markets about the possibility of increased interest rates.

Unemployment is expected to be 10.3 percent in both 2004 and 2005, according to the finance ministry's latest calculations.

© 2004 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
EU demands solution to gas crisis EU demands solution to gas crisis
2
Bakken oil pipeline, Sandpiper, delayed Bakken oil pipeline, Sandpiper, delayed
3
All staff back in Iraq, Gulf Keystone Petroleum says All staff back in Iraq, Gulf Keystone Petroleum says
4
Shale boom driving gas prices lower, AAA says Shale boom driving gas prices lower, AAA says
5
Raytheon to supply components for Israel's Iron Dome interceptor Raytheon to supply components for Israel's Iron Dome interceptor
Trending News
x
Feedback