Draft budget envisages deficit of 110 billion

02-09-2013

A draft of the state budget for 2014 recons with a deficit of 110 billion crowns, the daily Lidové noviny reported on Monday. The budget cuts funding for the transport and education portfolios while increases expenditures for the ministries of agriculture and industry. The deficit is 5 billion higher than that planned by the previous centre-right government of Petr Nečas; however, the expected deficit should remain under the target of 3 percent of GDP. The government is to send the draft budget to the lower house by the end of September; however, MPs will only be able to debate it two months later, after the early general election.