Czech gov't debt largest in history

Debt

The Czech Republic's government debt rose to a record CZK 2.47 trillion (EUR 100 billion) last year, the Ministry of Finance said on Thursday, according to a report by Czech Radio.

It is the highest level ever in the history of the country. The debt for 2020 reached CZK 2.05 trillion.

The increase is primarily the result of the ministry issuing bonds to cover last year's budget deficit and take advantage of favorable conditions on financial markets to pre-finance the planned debt repayments. 

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