16th May 2014

Fitch agency confirmed its rating for the Czech Republic

On Friday the rating agency Fitch confirmed its A+ rating of the Czech Republic. The agency also left its economic forecast for the Czech Republic unchanged. Fitch agency announced in its report that the relatively flexible Czech market was being slowed down by the growth of unemployment during the recession. Recovery of the Czech economy is boosted by the promising outlook of Euro-zone countries alongside with monetary intervention aimed at weakening the Czech currency and renewed investment efforts in public sector. Also the election of new stable government played its role in this process. According to Fitch estimates, usually being more conservative than those of Czech National, budget deficit should stay under 3 % and the economic growth should raise by 2.6 % this year and accelerate to 3.3 % next year.

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Members of the American Chamber of Commerce in the Czech Republic