Chamber committee recommends approval of 2011 draft budget

The Chamber of Deputies’ budget committee has recommended that the lower house approve in the first reading a draft budget for next year put forward by the minister of finance, Miroslav Kalousek. The 2011 draft budget envisages a deficit of CZK 135 billion (USD 7.7 billion), down from this year’s target deficit of CZK 163 billion. The Czech government is seeking to cut the country’s fiscal deficit, which widened to 5.8 percent of gross domestic product last year. The target for this year is 5.3 percent. The right-of-centre coalition has 118 mandates in the 200-seat lower house, meaning the budget is likely to be passed without difficulty later in the year.

Author: Ian Willoughby