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Czechs 2012 budget deficit around 105bn
PRAGUE : Czech Finance Minister Miroslav Kalousek will propose a 2012 budget deficit of 105 billion crowns ($6.13 billio
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Kalousek's plan is in line with a previously announced target to cut the public finance gap to 3.5 percent of gross domestic product from 4.6 percent this year.
But this was the first time he outlined a figure for the central budget deficit.
"We are targeting 3.5 percent of GDP next year that means a deficit of 105 billion crowns," Kalousek said.
The centre-right government won an election last year on pledges to cut spending and tackle bloated pension, health and welfare systems. It aims to cut the budget gap below 3 percent in 2013 and to zero by 2016.
Copyright Reuters, 2011