Fiala: Govt. likely to meet budget deficit target this year

Prime Minister Petr Fiala says it is very likely that his government will manage to keep the state budget deficit below the target CZK 300 million this year. In a video posted on social media on Sunday he also said that next year Czechia was likely to meet a key Maastricht criterion for adopting the euro currency: reducing its budget deficit to beneath 3 percent of GDP.

In addition Mr. Faila said Czechia’s inflation rate next year should be close to 2 percent, adding that he welcomed the fact inflation had fallen below 10 percent, which he called a psychological border.