2020 Czech budget deficit largest in country's history
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The Czech Republic's budget deficit for the year 2020 was CZK 367.4 billion (EUR 1.025 billion), Finance Minister Alena Schillerová announced, according to a report by Czech Radio.
Expenses used for combating the coronavirus pandemic reached CZK 216.5 billion. The government also increased investments which were worth CZK 173 billion, a rise by CZK 34 billion when compared to 2019. It is the largest deficit reached in the years since the establishment of the Czech Republic.
However, the deficit was still lower than the maximum of CZK 500 billion approved by Parliament.
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