PragueConnect.cz - Economy

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Cities and municipalities in surplus in 2013 and 2014

Economic management of cities and municipalities should end up in surplus this and next year. In 2013, the Finance Ministry relies on the surplus of around CZK 10bn, next year the estimate is CZK 6bn. The positive balance is caused mainly by higher tax revenues. Economic management of municipalities was positively impacted by a change in act on budgetary tax definition, which increased revenues of smaller settlements at the expense of large cities.

Source: www.govdaily.cz/en/