Czech Budget Deficit Lower than Expected

Politics ♦ Published: January 4, 2014; 12:16 ♦ (Vindobona)

In total, the Czech budget deficit will come at 2.0% of GDP. Before, the budget deficit was estimated to come at 3.4% of GDP.

Czech Budget Deficit Lower than Expected / Picture: ©

According to the Czech Ministry of Finance, the budget deficit will remain below the expectations. Due to the austerity measures, the Czech budget deficit only totaled € 3.1bn in 2013. Initially, the Czech government has scheduled a target of € 3.75bn. Above all, spending was € 617m lower than scheduled. In 2013, the Czech government cut social benefits and investments in…