NCB claims economy will grow by only 1.7% next year

The economy may only grow by around 1.7% next year, according to NCB Stockbrokers.

This would be down on the 2.1% rate of GDP growth that the Central Bank is estimating for 2013.

NCB has kept its broadly negative growth forecast — of 0.3% — intact for this year, but has lowered its 2013 growth estimate from 2% to 1.7%.