State budget surplus at record levels in July

The state budget surplus in the first seven months of the year climbed to 25.7 billion crowns from 22.6 billion a month earlier, the Ministry of Finance said on Monday. The figure is a record for July since the creation of the Czech Republic in 1993. At the same time last year, the state surplus stood at 4.5 billion. Two main factors contributing to the level of the recent surplus are around 50 billion extra in incoming EU funds and around 12 billion in extra social contributions.

Author: Chris Johnstone