Czech govt freezes Kc5bn of budget spending to cut deficit


02.04.2014 12:12

Prague - The Czech government today approved the Finance Ministry's proposal to freeze about Kc5bn worth of 2014 state budget expenditures in order to cut the budget deficit, Prime Minister Bohuslav Sobotka told journalists after the government's meeting.


Premiér Bohuslav Sobotka. ČTK Šulová Kateřina

The measure should reduce the planned budget deficit if no extraordinary events occur, Sobotka said.

A budget with a deficit of Kc112bn has been approved for this year.

The Finance Ministry has proposed to freeze spending of a budget chapter containing the government's budget reserve, administered by the Finance Ministry.

Previous governments also froze budget expenditures in an effort not to exceed planned budget spending during the economic crisis.

The ministry said it only wants to adjust changes made to the budget when it was debated in the Chamber of Deputies in autumn last year.

The government's budget reserve was then increased by Kc4.96bn at the expense above all of ministries' operating expenses and spending on state guarantees.

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