Deputy Finance Minister: Czech state budget deficit should not exceed 60 billion crowns.

Czech state budget deficit should not exceed 60 billion crowns next year as long as the economic growth reaches 2 to 2.5 percent, Deputy Finance Minister Eduard Janota said on a TV debate show on Sunday. If the pace of economic growth is slower, as some economists suggest, the deficit could rise up to 70 billion crowns. The approved law on state budget, based on economic development indicators from this spring, reckons with a deficit of 38.1 billion crowns. The ministry plans to cut spending and look for further money in European funds.