Budget deficit deepens in November but remains below last year’s level

The Czech state budget deficit widened in November to 232.4 billion crowns after growing by 49.3 billion during the month, the Finance Ministry reported. Although still the sixth-largest shortfall in the country’s history, it is the lowest November deficit in six years. A year ago, the gap stood at 259.2 billion. Revenues reached 1.87 trillion crowns, up 7.6 percent year-on-year thanks mainly to higher tax and insurance collections. Spending rose by 5.3 percent to 2.102 trillion. Outgoing finance minister Zbyněk Stanjura of the Civic Democrats said the cabinet in resignation is handing over public finances “in much better shape” than in 2021.