Czech National Bank lowers surplus projections for next two years

The Czech National Bank has lowered its surplus predictions for the public finances in 2019 and 2020. In November officials said the surplus should reach 1.3 percent this year. However, they have now revised that figure to 1.2 percent. Meanwhile, the central bank has reduced its surplus estimate for next year by two percentage points.

Overall growth predictions for the Czech economy in 2019 have also been cut to 2.9 percent, four decimal points lower than the November forecast.

Government debt is still very low in the Czech Republic compared to among its Visegrad Four neighbours. In 2017 it stood at 34.6%, more than 15 percent lower than in Slovakia and nearly 40 percent behind that of Hungary.