2020 budget deficit expected to be under 380 billion crowns

The state budget for 2020 will end on a deficit between 370 and 380 billion crowns, Finance Minister Alena Schillerová told Czech Television.  It will be the highest deficit in the country’s modern history.

The projected deficit was revised upward three times in the course of the year due to coronavirus related expenditures, going from 40 billion crowns in the first draft to 500 billion.

The final details of the state budget will be announced by the Ministry of Finance at a press conference on Wednesday, January 6.