(CIANEWS) - The economic balance of the government institutions sector reached a deficit of CZK 103.8bn in 4Q 2022. Year-on-year, this represents a deterioration of CZK 7.0bn. The deficit corresponds to the level of 5.8 % of GDP. The Czech Statistical Office informed about it, stating that the largest share of the result was spent on social benefits. Total sector revenues increased by 9.2 % to 40.3 % of GDP. Expenditures rose by 8.9 % to 46.1 % of GDP. The nominal debt of government institutions increased by CZK 430.4bn to CZK 2,997.1bn. The debt level of the sector increased by 2.1 percentage points to 44.1 % of GDP. Quarter-on-quarter, the debt grew by CZK 13.8bn, which represents an increase in the debt ratio by 0.2 percentage points.