State debt climbs to 1,168 billion crowns

Czech state debt climbed at the end of September to 1,168 billion crowns according to the Ministry of Finance’s quarterly calculations. This is a rise of 31 billion over the latest quarter with the debt total climbing by around 169 billion crowns since the start of the year. The figure breaks down into every Czech owing around 111,000 crowns. The Czech government has been forced to tap international markets for loans by issuing state bonds because state income has been lower and spending higher as a result of the economic crisis. Analysts say Czech debt is still relatively low but could be on a sharp upward curve unless curbed.