Finance Ministry: national debt nearly one trillion crowns in 2008

Czech national debt rose in 2008 by more than 107 billion crowns to nearly one trillion crowns (49 billion USD), the Finance Ministry announced on Monday. Czech loans from European investment banks and the deficit in last year’s budget were the biggest factors contributing to the level of debt. The Finance Ministry has said that this year it would like to borrow at most 148 billion crowns (7.2 billion USD) from outside sources. The ministry expects that national debt will in 2009 cross the one-trillion crown mark.

Author: Rosie Johnston