Telicka warns against growing deficit in public finances

The Czech government's chief EU negotiator Pavel Telicka has warned that unless the Czech Republic curbs its growing deficit in public finances it could seriously damage its chances of early admission to the European Union.

The Czech government's chief EU negotiator Pavel Telicka has warned that unless the Czech Republic curbs its growing deficit in public finances it could seriously damage its chances of early admission to the EU . Telicka urged the government to make fiscal measures a top priority. According to a finance ministry forecast this years' deficit in public finances should reach 190 billion Czech crowns, which amounts to 9,4% of the GDP. The Maastricht criteria allow a deficit no higher than 4,9% of the GDP.