The Czech budget is heading for the worst result in history

As expected, the Czech state's economy is heading for the worst result in history. While last year it ended at a loss of CZK 367 billion for the whole year, this year it exceeded CZK 400 billion by the end of November. The iDnes.cz server informed about it. According to the server, which referred to the report of the Czech Ministry of Finance, the state budget of the Czech Republic recorded a deficit of CZK 401.5 billion (EUR 15.78 billion) at the end of last month. According to the ministry, even slightly better year-on-year results in the individual months of the second half of the year failed to compensate for the deficits in January to April, which were exacerbated by state support for the pandemic-affected sectors of the economy, health care and households. According to Finance Minister Alena Schillerová, the budget deficit for the whole year will still be lower than the approved CZK 500 billion. "The November implementation of the state budget means that the approved full-year balance of CZK 500 billion will remain significantly unfulfilled. In addition, November is traditionally a worse month in terms of expenditures and revenues," the minister said. The outgoing government of Andrej Babiš prepared a budget with a deficit of CZK 376.6 billion next year. However, the incoming coalition rejects it and is preparing to revise the budget. In the first months of next year, the Czechia is probably waiting for a provisional budget.