Czech Budget Deficit Shrinks

Politics ♦ Published: November 23, 2013; 13:05 ♦ (Vindobona)

Despite the unfavorable macro-economic develoment, the Czech Republic´s budget deficit was down slightly. This is mainly due the the better tax collection, the Czech Statistical Office (CSU) reports.

Czech Budget Deficit Shrinks / Picture: ©

State budget (according to cash fulfilment) finished at the end of first half of 2013 with the lowest deficit since the beginning of the deep economic recession (-31.5 bn crowns). The development of the last three years confirmed the trend towards a gradual consolidation of public finances. In the last three years (mostly due to the indirect effect of legislative amendments in the tax…