Czech Finance Ministry predicts 2% growth for 2020, blames global tensions

The Czech economy will bottom out this year, according to the Czech Finance Ministry, which predicts that GDP will rise just 2 percent. But the ministry isn't overly excited about 2021, forecasting growth of just 2.2 percent. It sees slow global growth this year as one of the biggest factors in the sluggish pace of business at home. "The deepening of tensions in global trade relations, the growth of protectionism and the uncertainty that goes with them is causing losses in the world economy in the form of reduced confidence from businesses and consumers in the future economic development, which above all influences investment decisions," wrote the ministry.