Czech cabinet finalises preparations for 2018 budget

The Czech Cabinet meeting September 25 made final preparations for the 2018 budget.

Most of the major issues had been settled, such as a 475 crown a month increase in pensions and 10 percent increase in wages for state workers, but some outstanding issues have still to be cleared up.

These include how much extra funding can be found for universities. It was eventually decided that 3 billion crowns extra would be found for them.

The target budget deficit for 2018 is 50 billion crowns with more money for spending facilitated by an increase in the expectation of tax and other earnings as a result of the country’s strong economic performance.

A new government formed after elections at the end of October could adjust next year’s budget.