Pavel Burian posts - Czech Points

Pavel Burian

January 3, 2020 Politics

Budget deficit highest in 5 years

Budget deficit highest in 5 years - Czech Points

The fiscal year 2019 ended with a 28.5 billion crown deficit, Finance Minister Alena Schillerov√° told reporters at a press briefing in Prague on Friday. The 2019 state budget was projected with a 40 billion crown deficit. Although it was narrowed by 11.5 billion, the deficit is still the highest since 2015. 

Opposition parties have criticized the result, arguing that there is no justification for a deficit budget at a time of solid economic growth. They moreover criticize the fact that large sums are spent on the social sphere rather than on investments. 

The 2018 budget ended on a surplus of 2.9 billion, despite the projected 50 billion crown deficit.