Macroeconomic Forecast Czech Republic

June 2007 | Macroeconomic Forecasts

According to data provided by the Czech Finance Ministry, the central budget deficit came in at CZK25.98bn during the first five months of 2007, increasing by a staggering 113% y-o-y from CZK12.2bn during the same period in 2006. The ministry forecasts that 2007's fiscal deficit will amount to 4.0% of GDP, which is slightly lower than our current 4.2% forecast. The government has announced in the past that it is committed to lowering the deficit, down to 3.5% of GDP in 2008 and 2.6% in 2009, by implementing far-reaching reforms to the country's tax and health care system.

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