NKÚ: Debt over CZK 2tn; Covid measures cost 5.4% of GDP

(ČIA) For the first time, the public debt exceeded CZK 2tn in 2020, but the Czech Republic is still among the least indebted EU countries. Only three other member states had a lower public debt, according to the information provided by the Supreme Audit Office (NKÚ). The high rate of indebtedness, however, represents a significant risk for state finances. In the coming years, it is expected to be the second-fastest in the European Union. NKÚ president Miloslav Kala is convinced that if the state looked for savings carefully, it would be able to return CZK 20bn to the budget per year, necessary to stop the Czech Republic before the limit of the debt brake. As for the measures during the pandemic, the Czech Republic spent the second lowest volume of money on direct assistance, namely 5.4% of GDP, compared to five neighbouring countries.



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