English News

Citibank: GDP to decrease one per cent this year

25.09.2012 - 17:26 | English news

PRAGUE (ÈIA) – According to a prediction made public by Citibank, the gross domestic product in the Czech Republic will fall 1% this year. Analysts with Citibank predict a recovery of the economy by 0.4% in 2013. According to Jaromír Šindel, an economist with Citi Research, the prediction for the year 2012 has been reviewed upwards thanks to a slightly positive review of GDP in the first half of this year. The outlook for 2013 remains negative, which reflects a weak foreign demand. The analysts predict a decrease in the euro area GDP by 0.9% y/y in 2013.


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