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Czech govt raises public sector deficit forecasts

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The Czech public sector deficit will rise by more than previously expected next year to 5.1% of GDP and will only fall slowly in subsequent years as the recession-hit economy begins to recover, the Finance Ministry said on Friday. This year’s deficit is forecast to triple from 2008 to 4.5%, but may jump to 7.6% if the costs of awarding a major environmental deal is added to the books, the ministry said. The three-year outlook for public sector deficits saw the gap narrowing to 4.9% of GDP in 2011 and 4.2% in 2012.

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