Budget deficit of CZK 295 billion for 2023 passes first reading

The Czech lower house on Wednesday approved the government’s draft budget for 2023, sending it for debates in the house committees.

The budget envisages a deficit of CZK 295 billion. Next year's budget revenues are expected to amount to CZK 1.93 trillion and expenditures to CZK 2.22 trillion.

After an eight-hour debate, 84 coalition MPs present voted in favour of approving the basic parameters, while the opposition was against.

For this year, the approved amended budget, which is still awaiting the president's signature, envisages a deficit of CZK 375 billion.