PRAGUE (Reuters) - The Czech central state budget deficit may substantially undershoot the 100 billion crown ($5.27 billion) target thanks to an inflow of European Union subsidies, Prime Minister Jiri Rusnok said on Wednesday.
“Given the results of the first nine months there is big hope that this year’s deficit will be substantially better than planned,” Rusnok told a news conference.
The central government budget, the main part of the overall public sector finances, showed a 38.2 billion deficit at the end of September. The full-year public sector plan called for a deficit of 2.9 percent of gross domestic product, and the latest Finance Ministry forecast from September saw a 2.8 percent gap.
($1 = 18.9828 Czech crowns)
Reporting by Robert Muller, writing by Jan Lopatka