Record budget deficit deepens to almost CZK 120bn

(CIANEWS) - At the end of February 2023, the state budget management ended in a deficit of CZK 119.7bn. After adjustments for incomes from the EU and financial mechanisms and expenditures for these projects, the deficit totalled CZK 119.5bn. This information was provided by the Czech Ministry of Finance (MF). The year-on-year worsening of the balance by CZK 74.4bn was mainly due to an increase in expenditures in the social area (up CZK 32.8bn), assistance to citizens and companies with high energy prices (up CZK 18.1bn) and administration of the state debt increased by payment of interest income from anti-inflation state bonds (up CZK 11.4bn).



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