Business News Flood damage to reach 2 to 3 billion USD

Czech town of Beroun, photo: CTK The government has estimated flood damage at between 60 and 90 billion Czech crowns, which is 2 to 3 billion USD. The government says it does not want to increase the state budget deficit of almost 160 billion crowns planned for next year but primarily use this year's budget reserves and privatisation revenues to finance repairs. It will also have to revise its expenditure priorities - the foremost priority will be renovation of the affected areas.