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E. Zamrazilová: Debt to grow to 50% of GDP in 2023

(ČIA) Public debt will reach 39.4% of GDP by the end of 2020 (30.8% in 2019). It is expected to reach the 50% mark in 2023. Eva Zamrazilová, Chairwoman of the National Budget Council of the Government, said this at the 24th Export Forum. Her prediction is based on the proposal of the Ministry of Finance, which plans state budget deficit of CZK 320bn for 2021 and CZK 286bn and CZK 252bn for 2022 and 2023, respectively. E. Zamrazilová also pointed out that the Czech economy entered the current crisis with greater indebtedness than it did at the beginning of the depression in 2008, when public debt amounted to 28.3% of GDP and increased by 15 percentage points over the next four years. Now its projection assumes an increase in public debt in four years by almost 20 percentage points.

 

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