State budget deficit needs to be lowered by over ten billion crowns, says most likely next prime minister

The most likely prime minister, the acting leader of the Civic Democrats Petr Nečas and Miroslav Kalousek, of the Civic Democrat’s coalition partner TOP 09 said on Sunday that this year’s state budget had to lowered by another ten billion Czech crowns or more to achieve a state budget deficit of 5.3 percent of Gross Domestic Product (GDP). Mr Nečas said that the future government should take steps to actively create next year’s state budget. Last year, the state budget deficit reached a record sum of 192.4 billion Czech crowns. One of the conditions for the Czech Republic to join the Eurozone is that the state budget deficit be lowered to three percent of GDP by 2013.