Gov’t seeks 2021 budget deficit of CZK 500 billion

The Czech government wants to increase this year’s budget deficit to 500 billion crowns, Finance Minister Alena Schillerová announced. Thus far, a deficit of 320 billion crowns has been approved. MPs are due to negotiate the draft on Thursday, which Schillerová has asked be passed within the fast-track procedure.

The proposal includes changes stemming from new tax regulations that came into force in January, such as the abolition of the so-called super gross wage. National Budget Council chairwoman Eva Zamrazilová said that it is clear that adopting the tax package in late 2020 was even more "irresponsible" than it seemed at the time.

Author: Brian Kenety