Finance Minister: Government plans to let companies pay taxes in euros from 2024

The Czech government plans to let companies pay taxes in euros from 2024, which should enable the state to raise its borrowing in the eurozone currency, Finance Minister Zbyněk Stanjura said in an interview published by news agency Reuters on Friday. The government expects “low tens of percent” of firms to choose this form of payment if the amendment that proposes the switch gets passed.

Mr Stanjura also said that next year’s budget deficit should be lower than the CZK 280 billion which was approved for this year.

When it comes to inflation, the minister says that inflation will have to be tackled by the newly forming council of the Czech National Bank, going on to say that the government cannot “add fuel to the fire” and that the budget council of the state executive needs to mitigate inflation through economical and directly addressed steps to prevent the onset of an inflation spiral, the Czech Finance Ministry tweeted on Friday.