Finance Ministry raises GDP estimate

The Finance Ministry in a new forecast improved its estimate of GDP expansion for 2014 to 1.7 percent from January’s 1.4 percent, while the estimate for 2015 stayed that same at 2 percent, the ministry said in a press release on Friday. Domestic demand should make up two-thirds and foreign trade one-third of the estimated figure, the ministry said. Inflation is expected to remain low despite the crown´s weakening caused by the Czech National Bank´s forex interventions last November. The ministry puts the inflation rate at 1 percent this year, the same rate as in the previous forecast.