Government approves outline state budget deficit of CZK 390 bn for 2022

The Czech government has approved the basic parameters of next year’s state budget deficit, setting it at CZK 390 billion, the minister of finance, Alena Schillerová, told reporters on Monday.

The minister said that the budget priorities for 2022 were savings on the state administration, including layoffs, investments of CZK 189 billion, an increase in the old-age pension, maintaining a lower income tax rate of 15 percent and raising the salaries of educators, police officers and soldiers and freezing the salaries of state employees.

Author: Ian Willoughby