Minister of Finance Zbyněk Stanjura (left) and Prime Minister Petr Fiala at a government meeting, December 21, 2022, Prague.
Prague – Prime Minister Petr Fiala will meet with Finance Minister Zbyňek Stanjura (both ODS) this afternoon during the next in a series of balance visits by the Prime Minister to individual ministries. According to the government office, the main topic of the meeting should be efforts to consolidate public finances. Stanjura wants to prepare a package of measures this year that would reduce the structural deficit of the state budget by one percent of the gross domestic product (GDP), i.e. by roughly 70 billion crowns.
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In recent years, the Czech Republic has been struggling with a large structural imbalance in the state budget. Last year, the state budget ended with a deficit of 360.4 billion crowns, which was the third worst economic result after 2021 and 2020. The approved deficit for this year is 295 billion crowns. According to the forecast of the Ministry of Finance, this year the debt level of the Czech Republic should reach 45.8 percent of GDP, which is the highest level in history.
Stanjura previously stated that the economic experts of the governing parties are dealing with possible savings based on the proposals of the National Economic Council government (NERV). Information appeared in the media about a possible extension of the retirement age, an increase in some taxes or the cancellation of state support for building savings. According to Stanjura, after the proposals are discussed in expert teams, the measures will be given to politicians for assessment. According to him, the government should discuss the material in March.
