PRAGUE: The Czech parliament gave its final approval on Tuesday to the 2018 central state budget, which envisages a 50 billion-crown deficit ($2.30 billion), sending it to the president to sign into law.
The budget, whose planned deficit at a time of rapid economic growth has drawn criticism, will be implemented by the new government that took power following an October election.
Prime Minister Andrej Babis, whose ANO party won the October election, has so far been unable to secure coalition partners or support from other parties for his minority government.
Lawmakers backed the bill with 140 votes in the 200-seat lower chamber of parliament; only the second-strongest faction, the Civic Democrats, and conservative TOP09 voted against. The upper chamber does not vote on a budget.
The draft, prepared by the former centre-left government, foresees central state budget revenue of 1.31 trillion crowns next year and net inflows of EU funding of 29.4 billion crowns.
While the central budget as planned will produce a deficit, the draft anticipates overall public-sector finances - which include regional budgets, the national healthcare system and other items - will provide a surplus of 1.3 percent of gross domestic product, up from 1.1 percent seen in 2017.
"We will be glad if you show us during the next year, where the money is wasted, and we will try to fix it," Babis told lawmakers before the vote.
Babis, a billionaire businessman who ran on an anti-establishment ticket and promises to make the state more effective, took office with his government last week.
Comments
Comments are closed for this article.