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Gov’t approves 2018 budget with shrinking deficit

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The Czech cabinet approved on Monday its 2018 central state budget draft with a planned deficit of CZK 50 billion, the last finance plan for the centre-left ruling coalition before an October election. The gov’t is aiming to boost teachers’ pay and other salaries while also trimming a deficit seen at CZK 60 billion in 2017. The state has had little trouble with financing while the country has the lowest unemployment in the EU and a fast-growing economy.

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