2020 Czech budget deficit largest in country's history

World

Image by Shutterstock.com

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.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.