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EC: Czech GDP’s growth will slow down 2.1% in 2016

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Czech economy’s growth rate will slow down to 2.1% in 2016 from 4.2% in the previous year. This stems from the European Commission’s prediction. The growth rate will drop due to the subsiding of the effect of the additional drawing of European funds from the 2007-2013 period. GDP growth will be driven primarily by strong domestic demand. In 2017 GDP will grow 2.7%, according to estimations. EC also estimates that unemployment rate will decrease to 4.4% in 2017 from 5.1% in 2015. The inflation in 2017 is expected not to exceed Czech National Bank’s (CNB) 2% target until 2017. Government debt will stabilize at 41% of GDP in 2016 and 2017, according to the estimations.

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