Czech Republic’s 2017 budget ends with 6.2 billion crown deficit

The Czech Republic’s state budget ended 2017 with a deficit of 6.2 billion crowns (around 243 million euros). The result was the second best figure in the past two decades, the finance ministry said on Wednesday. According to the resort, the deficit was caused mainly by slower drawing of EU funds.

Last year, the Czech Republic enjoyed a record 62 billion crown surplus, thanks to the refunds from the European Union covering projects from the previous budget period. According to the ministry estimates, 2018 should see a similar surplus.