PM: Czech Republic will exceed eurozone’s budget deficit limit in 2009

Prime Minister Mirek Topolánek has said that the Czech Republic will exceed the eurozone’s budget deficit limit in 2009 because of the financial crisis. The Maastricht criteria call for countries sharing the single euro currency to keep public deficits below three percent of GDP. But speaking on Slovak Television on Sunday, Mr Topolánek said that this limit would be exceeded because of the cost of a crisis-management plan the government is seeking to put in place. The Czech Republic is yet to announce a target date for euro entry, but the prime minister has said that he will set a deadline by November this year.

Author: Rosie Johnston