State budget gap for 2014 lower than projected

05-01-2015

The Czech Republic´s state budget ended in a 77.8 billion crown deficit last year, lower than the approved 112 billion crown gap for the year, the Finance Ministry announced on Monday. The deficit was lower mainly thanks to the collection of corporate income tax and VAT on the side of revenues. On the side of expenditures, savings were reached in particular by non-investment purchases and related expenditures, social allowances and potentially also by tying expenditures in the General Treasury Administration chapter, the ministry said.