Lower house committee recommends raising this year's deficit by CZK 30 billion due to floods

The lower house of parliament’s budget committee has recommended that deputies approve a CZK 30 billion rise in the state budget deficit under a  state of legislative emergency. The additional funds are aimed at covering the costs of flood damage, particularly in the Moravian-Silesian and Olomouc regions.

This would raise the approved deficit from CZK 252 billion to CZK 282 billion, with the money available from the government’s budget reserve. The lower house is set to debate the proposal later on Tuesday.