2021 budget deficit highest in history
The Czech Republic’s budget deficit in 2021 was CZK 419.7 billion, Finance Minister Zbyněk Stanjura announced at a press conference on Thursday. The high deficit was caused by a combination of coronavirus relief measures and investments.
It is the largest deficit in the modern history of the Czech Republic, surpassing the CZK 367.4 billion deficit registered in 2020. However, it is still below the CZK 500 billion ceiling approved by Parliament.
Since the start of the year, the Czech Republic has been on a provisional budget, which is expected to last until the end of March. This is because the Chamber of Deputies failed to approve the draft state budget for 2022 by the end of last year.