State to borrow less this year
Outgoing finance minister Miroslav Kalousek said on Monday that the amount of money the state would borrow in 2013 would be 110 to 140 billion crowns lower than in previous years. Interest costs would go down and the state debt would decrease in annual terms for the first time in 15 years, Kalousek told journalists. The Finance Ministry has plans to borrow 230 billion crowns in 2013. Financial analysts say the news is not unexpected since the country’s financial reserves are excessive and it is not just possible but advantageous to borrow less.