Government wants 2013 draft budget by end of August

The government has told the Finance Ministry to complete the draft state budget for 2013 and the medium-term outlook by the end of August. The Czech Press Agency reports that government on Tuesday approved a deficit goal of 2.9% of GDP in 2013, 1.9% GDP in 2014 and 0.9% n 2015. The 2013 deficit has been projected at 100 billion crowns; the Finance Ministry wants that to drop to 70 billion in 2014 and 30 billion in 2015. This year´s budget deficit was projected at 105 billion crowns, but already stood at 79 billion by the end of May. Finance Minister Miroslav Kalousek still insists the planned level should not be crossed this year.