Finance Ministry to revise public deficit figure

The Ministry of Finance says it will be forced to revise its budget deficit figures for this year because of the worse than expected economic situation. The ministry promises a new version of the 2009 budget by mid-August which could see the deficit ballooning to 200 billion crowns or beyond. The ministry only in June said that the deficit should not exceed 170 billion crowns. Since then however it has deepened its prediction of how much the economy will shrink this year to 4.3 percent.

Author: Chris Johnstone