Czech budget proposal: 10 billion cut of the deficit

Published: 28.08.2018 Related countries:  U.S.A. U.S.A.

Czech Finance Minister will propose to cut 2019 state budget deficit by 10 billion Czech crowns (approx. $0.45 billion). The proposed state budget deficit is 40 billion Czech crowns (approx. $1.82 billion). The proposal is already approved by the government.

The Czech Republic belongs to the EU’s top budget performers. In the past two years, thanks to economic growth and the low unemployment rate, the Czech Republic has an overall fiscal surpluses. Rising wages and taxes and social charges are increasing the government revenue. Despite the 20% cut of the planned deficit, the budget still counts with one of the biggest spending rises in the modern era of the Czech Republic.

Published by the team of CzechTrade foreign office in Chicago.

Source: https://www.radio.cz/en/section/business/proposed-state-budget-deficit-cut-by-10-billion-on-back-of-rising-revenues-from-wage-increases