Chamber approves 2013 draft budget in first reading

The Chamber of Deputies approved next year’s draft budget in its first reading on Wednesday, when 79 of 152 deputies present voted for it. The budget envisages a deficit of CZK 100 billion, or just over USD 5 billion. The deficit should equal 2.9% of gross domestic product. A final reading of the draft budget is scheduled for December 19. Failure to approve it would lead to a provisional budget at the start of next year.

Author: Ian Willoughby