April budget deficit deepens to CZK 126.1 billion, still better than last year

The Czech state budget deficit rose to CZK 126.1 billion in April, up from CZK 91.2 billion in March, according to the finance ministry. Despite the monthly increase, it marks a year-on-year improvement from April 2023, when the shortfall reached CZK 153.1 billion. Finance Minister Zbyněk Stanjura attributed the improvement to economic growth and the government’s consolidation package. State revenues increased by 5.2 percent year-on-year, mainly due to higher tax collection, while spending remained relatively stable. The largest expenditures were on social benefits, especially pensions, with debt servicing costs rising sharply compared to last year.