Topolanek: government ready to spend up to two percent of GDP on financial crisis package

The government plans to spend some 75 billion crowns (3.5 billion USD) on minimizing the effects of the financial crisis at a national level. In an interview with Mladá fronta Dnes on Saturday, Prime Minister Mirek Topolánek outlined his plans to combat the crisis, saying the government was prepared to spend funds worth two percent of GDP on a bail-out package. The government has founded an advisory committee called NERV which is currently devising ways to help the country limit the fall-out of the global financial crisis.

Author: Rosie Johnston