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Czech Fiscal Policy: Major Difficulties Ahead
Politics ♦
Published: January 11, 2014; 16:37 ♦ (Vindobona)
Despite austerity measures, the Czech debt spiral was up considerably in the past years.
Czech Fiscal Policy: Major Difficulties Ahead / Picture: © Vindobona.org
Although the Czech public debt ratio is substantially below the EU average of 90% of GDP, the fiscal situation is rather conspicuous. In the past years, the Czech public debt quota was up rapidly. After a public debt ratio of 28.9% in 2008, the figure grew sharply to 49.0% of GDP until the end of 2013, the European Commission stated.
After a budget deficit of 4.4% of GDP in 2012,…
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