Czechia has record high October budget deficit

Czech Minister of Finance Alena Schillerová. (Alena Schillerová/Twitter)
By Lucie Ctverakova
1 Min Read

At the end of October, the state budget deficit rose to 335 billion korunas (€13 billion) from 326.3 billion korunas (€12.7 billion) in September, which is the worst October result since the establishment of the Czech Republic. Last year, at the end of October, the deficit was 274 billion korunas (€10.7 billion).

At the end of October, total budget revenues increased by 24.6 billion korunas (€963 million) year-on-year to 1.2 trillion korunas (€46.9 billion). Total budget expenditures then rose by 85.6 billion korunas (€3.3 billion) year-on-year to 1.54 trillion korunas (€60.2 billion).

This year’s approved state budget deficit is 500 billion korunas (€19.5 billion). According to the Ministry of Finance expectations, however, the budget for the whole year will end with a deficit of approximately 400 billion korunas (€15.6 billion).

Last year, when the result was affected by the coronavirus pandemic, the state budget ended in a deficit of 367.4 billion korunas (€14.3 billion). According to the candidate for Prime Minister Petr Fiala, the emerging government coalition wants to draw up a new state budget for next year with a deficit of up to 300 billion korunas (€11.7 billion).

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