Czech Banks Forecast GDP to Shrink 0.95 Percent This Year

The Czech Banking Association forecast the domestic economy to decline 0.95 percent this year.

Gross domestic product will rise 0.45 percent next year, the banking association said today in Prague in an update of its economic forecast.

The association expects the total loan portfolio to rise 3.6 percent in 2012, even with the overall economic slowdown, it said.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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