The Czech Ministry of Finance has improved the Czech economic forecast

The Czech Ministry of Finance has improved its Czech economic forecast. According to a new forecast released on Tuesday, gross domestic product (GDP) in the Czech Republic will rise 3.2 percent this year, while the ministry expected 3.1 percent growth in April.

The Czech Ministry of Finance has become more optimistic.

Next year, instead of the previous 3.7 percent, the Ministry of Finance expects the Czech economy to expand by 4.2 percent.

The engine of economic growth will continue to be investment and household consumption, according to the Ministry of Finance.
Last year, Czech GDP fell by 5.8 percent due to problems caused by the coronavirus pandemic. (Kokes János, MTI)