Czech national debt falls in first quarter to just over 860 billion crowns

In business news, the national debt fell in the first quarter of this year by 32.2 billion CZK to just over 860 billion CZK (55 billion USD). According to the Finance Ministry, this represents a debt worth 84,000 CZK per each Czech citizen. The national debt is made up of direct loans from other countries and various European investment banks. In 2007, the national debt actually rose by 90 billion CZK to nearly 900 billion CZK (57.7 billion USD). The Czech Republic has been told to monitor its national debt closely as a step towards euro adoption.