Prague - Czech state budget posted a Kc50bn surplus at the end of February compared with a Kc45bn surplus at the end of January, showing the best result for February since at least 2000, the Finance Ministry said today.
Přepravní bezpečnostní schránka, bankovní trezor, české bankovky, peníze, koruna - ilustrační foto. CTK Horázný Josef, Fotobanka ČTK
In February 2013, the state budget posted a Kc5.6bn surplus.
For the whole of this year, the budget has been approved with a Kc112bn deficit.
The ministry also announced it had cancelled an auction of state treasury bills for Kc8bn thanks to the budget results. The auction was scheduled to be held on Friday, February 28.
Total budget revenues grew by Kc35bn year-on-year to Kc231.6bn in February.
The growth was driven mainly by the inflow of EU subsidies (almost Kc11bn) and the revenue of Kc8.5bn which the state received from the auction of frequencies for fast mobile networks, held in November last year.
Tax revenues, excluding the collection of social security insurance, increased by almost 15 percent to Kc107.1bn. The budget for the entire year reckons with a 2.3 percent growth in the revenues.
Value added tax collection rose by more than 18 percent on the year to Kc46.6bn. Excise duty collection increased by Kc6.2bn to almost Kc38bn
Total budget expenditures decreased by Kc9.5bn to Kc181.6bn.
The state spent Kc75.3bn on the payment of social security allowances, a growth of Kc0.2bn compared with February 2013.