Finance minister proposes budget with 112-billion deficit

Czech Finance Minister Jan Fischer has proposed a draft state budget for 2014 with the deficit of 112 billion crowns. Mr Fischer told a news conference on Wednesday he had originally planned a deficit of 110 billion crowns but that he now expected an extra 4 or 5 billion in tax revenues. The minister said the target of 3 percent of GDP would not be exceeded. The government will discuss details of the draft budget with employers and trade unions on Friday, and is set to vote on the proposal next week.