PRAGUE (AP) — The Czech Republic's central bank has significantly reduced its prediction of economic growth next year to 1.2 percent because of the eurozone's crisis.
Previously, the bank expected the economy to grow by 2.2 percent in 2012. In 2013, the economy should expand by 2.7 percent, the bank said.
Thursday's announcement came four days after the Finance Ministry reduced its prediction of next year's growth to just 1 percent.
Bank Gov. Miroslav Singer said the move was prompted by a weakening Europe economy following uncertainty from the debt crisis.
The Czech Republic does not use the common European currency but eurozone nations, including Germany, are the major trading partners for the export-oriented Czech economy.
