The Czech central state budget is likely to be proposed with a deficit of CZK 230 billion (USD 12.76 billion) for next year if legislation does not change, which would mean a public finance gap of 7% of gross domestic product, Finance Minister Eduard Janota said on Sunday. He said the state budget deficit, which is a key part of public finances, could be slashed to roughly CZK 160 billion next year, or 5% of GDP, if taxes are raised and mandatory spending trimmed.
