Czech government plans second-highest budget deficit in history

The Czech government plans to run a budget deficit of CZK 389 billion next year, Finance Minister Alena Schillerová said on Monday after a cabinet meeting. The proposed deficit would be the second-highest in the country’s history, after the CZK 419.7 billion deficit recorded in 2021 during the Covid-19 pandemic.

The budget proposal expects revenue to rise by 3.3 percent to CZK 2.19 trillion, while spending would increase by 6.2 percent to CZK 2.58 trillion.

The government can still change the proposal before it is submitted to the Chamber of Deputies by the end of September. This year’s planned deficit is CZK 310 billion.