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Czechia finishes 2018 with a budget surplus

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The Czech Republic ended 2018, on a high note, with its second-highest budget surplus since 1996. The finance ministry had initially planned for a CZK 50 billion budget deficit, for the year, but instead ended they year saving CZK 2.9 billion.

According to Finance Minister Alena Schillerová (nominated by ANO), the surplus resulted from greater tax and social insurance collections, thanks to the booming economy and wage growth. The influx of European Structural Funds to the tune of CZK 50 billion, also helped reduce government debt and resulted in the surplus.

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