William Malcolm

Government Approves 2022 Budget With CZK 390 Billion Deficit

Today, the government approved the basic parameters of the state budget for next year with a deficit of 390 billion crowns. The Minister of Finance Alena Schillerová (ANO) informed about it.

According to the Ministry of Finance, the budget priorities are savings on state operations, including dismissal of officials, investments worth 189 billion crowns, increase in pensions by 758 crowns per month, maintenance of 15% lower employee taxation, increase of taxpayer discount by CZK 3,000 and soldiers by 550 or a freeze on the salaries of civil servants.

The total budget revenues should amount to 1.486 trillion crowns and expenditures from the European Union and 1.876 trillion crowns.

This year, a deficit of CZK 500 billion is approved, and last year the state’s economy affected by the effects of the pandemic showed a deficit of CZK 367.4 billion. The Cabinet must approve and submit to the House the draft budget by the end of September.