Government submits draft budget with CZK 252 billion to MPs

The Czech government has submitted its draft for the 2024 state budget to the lower house of Parliament. The budget envisages a deficit of CZK 252 billion, which would be CZK 43 billion lower than this year’s planned deficit. While the 2023 deficit is equivalent to 3.6 percent of gross domestic product, next year it should be 2.2 percent of GDP.

Most ministries are set to see their budgets reduced as part of the Czech government’s cost-cutting policy. However, the ministries of defence, education and labour will get more money from the state coffers in 2024.