State deficit for 2009 forecast at 4 percent of GDP

The state deficit for 2009 has been forecast at between 120 and 130 billion crowns, according to Deputy Finance Minister Eduard Janota. The figure amounts to four percent of the country’s GDP, which means that the Czech Republic will fail to meet one of the basic criteria for euro adoption. The Czech government pledged earlier this year to set a euro adoption target by November of this year, but with the the collapse of the centre-right government plans for euro-adoption remain uncertain.