Czechia’s public debt rises to CZK 2.59 billion

The Czech Republic’s public debt has risen by CZK 128 billion over the past quarter to a total of CZK 2.59 trillion, the Czech Ministry of Foreign Affairs announced in its quarterly report on Friday. This converts to roughly CZK 247,000 per Czech citizen.

The main reason behind the public debt rise is the standard emission of state bonds issued to pre-finance debt payments. The Ministry sold bonds worth CZK 134.2 billion crowns which have to be repaid within one year in the first quarter. This should cover 92 percent of the public debt repayments in this year.