Budget deficit skyrocketed to CZK 157B in May
The state budget deficit in May rose to 157.4 billion crowns, up from 93.4 billion crowns in April, according to figures released by the Ministry of Finance on Monday. It is the highest monthly increase recorded since the establishment of the Czech Republic in 1993.
In April, the Chamber of Deputies increased this year’s state budget deficit to 300 billion crowns in view of the expenditures incurred by the coronavirus crisis. The highest yearly deficit so far -192 billion crowns -was in 2009 due to the global economic crisis.