State budget deficit falls to 91.5 billion crowns in October

The Finance Ministry has said the Czech state budget deficit fell to 91.5 billion crowns at the end of October from 105.1 billion in September. In October 2010 the state budget deficit stood at 96.7 billion crowns. Finance Minister Miroslav Kalousek said on Tuesday the 135-billion-crown state budget deficit proposed for 2011 would not be exceeded. The ministry says an expected 20-billion-crown drop in tax revenue will be compensated for by savings in government spending.