24th September 2013

Government: a proposal on state budget not to exceed 3 per cent criterion

At the last session of the Government, the Ministry of Finance introduced a proposal of the state budget for 2014. Basic parameters of the proposal were prepared by the former Government. The executing Government refused requirements of trade unions that asked for further financial means labor fostering that would increase the budget deficit. The Government approves the proposal of the Ministry that expects that the state budget deficit would not exceed 3 per cent of GDP (the deficit should be 112 bln CZK). Such criterion is required by the European Union as one of the Maastricht Criteria (Stability and Prosperity Pact, Euro-zone). The entire Government would pass the proposal at the forthcoming session. 
For further information, click here (explanatory report).

Members of the American Chamber of Commerce in the Czech Republic