PragueConnect.cz - Economy

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MF: Budget deficit at CZK 400m

The Czech Republic’s budget revenues as on April 30, 2015 amounted to CZK 400bn. Expenditures stood at CZK 400.4bn, i.e. the budget deficit totalled CZK 400m compared to a year-earlier surplus of CZK 26.6bn. According to a statement by the Ministry of Finance (MF), the deficit was caused by higher expenditure (+ CZK 18.8bn), in particular by higher investments in the co-financing of joint programmes of the European Union and the Czech Republic (+ CZK 8.4bn). As for revenues, VAT collection in public budgets has shown a positive trend (+ CZK 3.0bn on the year).

Source: www.cianews.cz