Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Czech Finance Ministry proposes 2024 state budget with $11.3 billion deficit

PRAGUE (Reuters) – The Czech Finance Ministry has proposed a 2024 central state budget with a 252 billion crown ($11.36 billion) deficit, according to a draft of the legislation sent to the government and released on Friday.

The deficit is below this year’s target of 295 billion but above an earlier proposed gap of 235 billion.

The draft may still be amended following discussions in the cabinet prior to submission to parliament by the end of September, but the ministry said the overall deficit figure should be maintained.

The ministry said revenue was seen at 1.92 trillion and expenditure at 2.17 trillion.

The proposal is based on a package of tax hikes and savings measures now being discussed in parliament that are aimed at reducing the deficit by around 100 billion crown.

Czech government finances have been dented by subsidies and an economic downturn during the coronavirus pandemic, subsidies to limit the impact of last year’s energy crisis following Russia’s invasion of Ukraine and weak economic output that has still not exceeded pre-COVID levels.

The ministry said the budget proposal reflected legislation mandating growth in defence spending to 2% of gross domestic product.

Prime Minister Petr Fiala told a news conference on Friday that he expected the overall public sector deficit to drop to around 3% of gross domestic product next year, compared with the Finance Ministry’s forecast of 3.6% this year.

($1 = 22.1830 Czech crowns)

 

(Reporting by Jan Lopatka; Editing by Alex Richardson)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts