Czech Republic: Government Refrains from Fiscal Discipline

Business › Economy ♦ Published: March 8, 2014; 10:06 ♦ (Vindobona)

In 2013, the budget deficit was down to 2.7% of GDP from 4.4% of GDP. In the next few years, the European Commission expects a trend reversal.

Czech Republic: Government Refrains from Fiscal Discipline / Picture: © Vindobona.org

Despite higher GDP growth rates, the Czech budget deficits will grow again. This year, the anticipated budget deficit comes at 2.8% of GDP, according to the European Commission. In 2015, the projected budget deficit is 3.3% of GDP.

Due to the loose fiscal policy, the Czech public debt quota grew rapidly in the last few years. After a public debt ratio of 29% in 2008, the figure…

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