Czech central banks improves deficit estimate

The Czech central bank on Friday released an improved estimate of the state budget deficit. It now predicts the deficit will reach 2.3 percent of the country’s GDP, down from its previous estimate of 2.4 percent. The Finance Ministry expects this year’s deficit to reach 2.8 percent. Next year, the Czech National Bank forecasts a further decrease of the deficit to 2.0 percent of GDP.