World Economy

Czech Economy to Grow 4.5%

Czech Economy to Grow 4.5%Czech Economy to Grow 4.5%

The Czech Republic is set to exceed all growth expectations for 2015, with the ministry of finance revising growth up to 4.5%, NewEurope reported. The rise betters the already positive forecast from Ernst & Young earlier in the month, who stated that the economy would grow 4.3% in 2015. The ministry stated that forecasts have been revised upwards due to a number of factors. These include; low oil prices, spending of EU structural funds, low inflation and rising consumer demand. It was only in June that the ministry was predicting 3.9% growth for the year.