Public finance gap grows to 5.93 percent of GDP in 2009

The Czech Republic’s public finance deficit rose to 5.93 percent of the GDP in 2009, up from 2.72 percent of the GDP in 2008, according to figures released by the Czech Statistical Office on Thursday. The fact that the country’s state deficit is almost double the 3 percent limit set down for euro adoption has raised concerns in Brussels. The country’s caretaker government has proposed a convergence plan that would cut the deficit to 3 percent of the GDP by 2013 but its implementation will depend on the government which will emerge from May’s general election.