Finance minister: Czech budget deficit to grow due to floods clear-up

In related news, Czech Finance Minister Eduard Janota has said he expects this year’s budget deficit to grow due to the floods to somewhere between 160-170 billion crowns (8.6-9.2 billion USD). Mr Janota made the statement in an interview with Czech Television on Sunday. The recent floods to have affected north Moravia, south Bohemia and, on Saturday, north Bohemia, are thought to have caused 7 billion crowns’ worth of damage. Allocating funds for the regeneration of the regions worst affected will be decided upon by early August at the latest, said the finance minister on Sunday. Mr Janota added that, at the moment, repairing the damage caused by the floods was the government’s top priority.