Czech Public Debt Growing Rapidly

Politics ♦ Published: September 14, 2012; 19:03 ♦ (Vindobona)

Until the end of the year, public debt is expected to increase to € 63.77bn. At the end of 2011, the public debt level came at € 58.5bn.

Czech Public Debt Growing Rapidly / Picture: ©

Next year, the debt level is anticipated to grow by € 3.9bn, the Czech Ministry of Finance announced in its draft budget proposal. The Ministry plans total expenditures of € 7.125bn. and revenues of € 4.023bn. This year, borrowings are expected to reach € 9.477bn.

At the moment, the public debt level amounts to about 40% of GDP. In the Eurozone, the average debt quota is…