Finance Ministry to issue bonds worth more than 670 billion to cover deficit and debts

The Czech Finance Ministry plans to issue bonds worth around 670 billion, of which over 192 billion would be used to cover the budget deficit for this and last year, according to a bill on a state bond programme published on the government's website, the Czech News Agency noted. The state budget deficit last year reached 81.3 billion. For this year it is planned to rise to 112 billion crowns. Under the bill, a total of 478.7 billion crowns from the bonds would be used to cover debts that will be due in 2015 and 2016. These include an issue of domestic bonds from 2005 and 2010, and a euro bond issue worth 300 million from 2009.

Author: Jan Velinger