Czech deputy Niedermayer says economy set to slow

The pace of economic expansion in the Czech Republic will decline in 2008, Ludek Niedermayer, a deputy governor at the Czech National Bank, warned on Wednesday.

"The economy will slow [in 2008]. For the time being I expect growth to be between 4% and 5% though, based on the latest data, the slowdown could be even greater," Niedermayer told E15, a Czech newspaper.

Last year the economy grew by 6% in the first two quarters, according to World Bank estimates.

However, in spite of falling growth the

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