Statistics show significant decline in state budget deficit in September

The state budget deficit declined to CZK 180.7 billion in September, down from CZK 194.6 billion in August, the Finance Ministry reported on Monday. The ministry attributed the drop, for the fourth month in succession, mainly to the windfall tax collected in September. The state collected CZK 25.65 billion on its first instalment. The budget deficit in September is the lowest since the start of the pandemic, but is still the fourth deepest in the country’s modern history. Last year, the deficit at the end of September was CZK 270.9 billion. Finance Minister Zbyněk Stanjura said he is optimistic about maintaining the planned deficit of CZK 295 billion, if further savings of around CZK 20 billion are made, mainly in operational and subsidy areas.