Czech finance minister says higher budget deficit likely next year

Czech Finance Minister Alena Schillerová says it is likely that next year’s state budget deficit will have to be increased. Speaking to Czech Television on Saturday she said the draft prepared by the previous government projected a shortfall of CZK 286 billion.

Schillerová said she has tried to limit spending demands in talks with ministers, but added that areas such as transport and social affairs are short of funds. She did not say how much higher the deficit could be, calling the current proposal unrealistic.

Prime Minister Andrej Babiš said the cabinet is expected to discuss a new draft budget on 19 January. Until then, Czechia will operate under a provisional budget, limiting monthly spending to one twelfth of this year’s total.