Priorities of the state budget of the Czech Republic for the year 2018 include a reduction of the planned deficit by CZK 10bn to CZK 50bn. The information was provided by the Ministry of Finance of the Czech Republic (FinMin) on May 22, 2017. The ministry also intends to raise expenditures on pensions by CZK 21.6bn and raise expenditures on wages by CZK 21.8bn. The share of municipalities of the national gross income from VAT will grow to 23.58% as of January 1, 2018. This represents a growth in tax income for municipalities by CZK 8.5bn. FinMin will save CZK 5bn on the state debt in 2017 and this will reduce the debt from CZK 46.3bn to CZK 41.3bn. The ministry saved CZK 11.7bn in 2015.
Source: www.cianews.cz
