Government approves 2011 state budget deficit proposal

The Czech government approved the Ministry of Finance’s proposal for 2011’s state budget on Wednesday. Prime Minister Petr Nečas told journalists that the goal for the 2011 budget was to curb government spending. Next year’s state budget deficit is to be limited to 135 billion Czech crowns, or 4.6 percent GDP. The lower chamber of parliament is set to discuss the budget proposal in October. For this year, a state budget deficit of 162.9 billion Czech crowns has been approved.