MPs approved amendment to budgetary responsibility rules

(ČIA) The Chamber of Deputies outvoted the Senate and approved the amendment to the Act on Budgetary Accountability Rules. The amendment responds to the economic effects of the coronavirus pandemic. The proposal is now heading for signature by President Miloš Zeman. The information was provided by the Ministry of Finance (MF). The standard creates a fiscal space for 2021 at the level of a structural deficit of 4% of GDP. In the following years, public finances would be consolidated according to the EU Council Regulation by at least 0.5 pp year-on-year before the medium-term budgetary goal is met again.



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