Government estimates total flood damage at up to CZK 50 billion

The government estimates total damage from the September floods at CZK 45 to 50 billion, with more than half affecting state property, Finance Minister Zbyněk Stanjura announced on Friday.

In response, the government has raised this year’s budget deficit by CZK 30 billion and next year’s planned deficit by CZK 10 billion. Stanjura stated that the adjustments are considered reasonable given the circumstances.

The government has until December 5 to submit the total damage assessment to the European Commission, enabling Czechia to access funds for reconstruction from the European Solidarity Fund. It is already clear that damages will surpass the CZK 40 million threshold needed for European Solidarity Fund assistance.