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Czech state budget deficit CZK 170.2bn Jan-May

Created at 1 Jun · 4:24 AM6 sources↑ Market-relevant6 events
IN SHORT

The Czech state budget reported a deficit of CZK 170.2bn (1.9% of GDP) in January-May, a 0.2% decrease year-on-year. May alone saw a CZK 64.1bn deficit, up 44.2% year-on-year, driven by increased public investment. Revenues grew 5.7% year-on-year, primarily from tax collection, social contributions, EU flows, and VAT.

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Key Numbers

CZK 170.2bnstate budget deficit January-May
1.9%state budget deficit as % of GDP January-May
0.2%year-on-year deficit change January-May
CZK 64.1bnstate budget deficit in May
44.2%year-on-year deficit increase in May
5.7%year-on-year revenue growth January-May
4.9%year-on-year tax collection growth January-May
6.5%year-on-year social contributions growth
7.1%year-on-year VAT collection growth
3.2%year-on-year excise tax revenue growth
4.7%year-on-year spending growth

Who's Involved

Finance Ministry
reported Czech state budget figures

↳ Why This Matters

The Czech state budget's fiscal performance is closely watched as it impacts the country's economic stability and adherence to EU fiscal rules. The recent increase in the May deficit, attributed to higher public investment, aligns with the government's strategy to boost spending on key sectors. Revenue growth, supported by VAT and social contributions, indicates some resilience in the economy, though external factors like fuel prices and EU flows play a significant role.

Key facts

  • Czech state budget deficit was CZK 170.2bn (1.9% of GDP) in January-May.
  • The deficit fell by 0.2% year-on-year.
  • May deficit was CZK 64.1bn, a 44.2% increase year-on-year.
  • Revenues increased by 5.7% year-on-year in January-May.
  • Tax collection was up 4.9% year-on-year, with social contributions and VAT as key drivers.
  • Spending rose by 4.7% year-on-year, mainly due to social expenses and public investment.

The Czech state budget's fiscal performance is closely watched as it impacts the country's economic stability and adherence to EU fiscal rules. The recent increase in the May deficit, attributed to higher public investment, aligns with the government's strategy to boost spending on key sectors. Revenue growth, supported by VAT and social contributions, indicates some resilience in the economy, though external factors like fuel prices and EU flows play a significant role.

Frequently asked questions

The state budget reported a deficit of CZK 170.2bn, which represented 1.9% of GDP.

The deficit was almost identical as a year ago, falling by 0.2% year-on-year.

The May deficit increased by 44.2% year-on-year to CZK 64.1bn, reflecting a boost to public investment.

Revenues rose by 5.7% year-on-year, driven by tax collection, social contributions, EU flows, and VAT.

What Happens Next

01Expect revenue growth to remain solid due to high fuel prices and potentially high energy prices.

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Cadence

How It Developed

1 Jun · 12:54 PM
Czech Republic's state budget deficit was CZK 170.2bn in Jan-May, nearly unchanged y/y, with May deficit up 44.2%.
Emerging Market Watch via PiQSuite
1 Jun · 5:53 AM
Bulgaria's budget deficit widened significantly in April, reaching EUR 232.2mn, a sharp contrast to last year's surplus.
Emerging Market Watch via PiQSuite
1 Jun · 4:53 AM
South Africa's main budget deficit was ZAR 63.3bn in April, with revenue up 12.5% y/y, driven by PIT and VAT.
Emerging Market Watch via PiQSuite
1 Jun · 4:21 AM
Mexico's public sector primary surplus grew to MXN 77.1bn in April, driven by reduced public spending despite a dip in revenues.
Emerging Market Watch via PiQSuite
1 Jun · 4:21 AM
Montenegro's state budget deficit contracted by 23.2% y/y to EUR 25.0mn in Jan-Apr, driven by stronger revenue growth.
Emerging Market Watch via PiQSuite

Sources

T1
Montenegro: State budget deficit contracts by 23.2% y/y to EUR 25.0mn in Jan-Aprm.piqsuite.com
T1
Mexico: Public sector primary surplus grows to MXN 77.1bn in Aprilm.piqsuite.com
T1
South Africa: Main budget deficit prints at ZAR 63.3bn in April, revenue starts stronglym.piqsuite.com
T1
Bulgaria: General government budget posts EUR 232.2mn deficit in Aprilm.piqsuite.com
T1
Montenegro: Budget deficit contracts by 23.2% y/y to EUR 25.0mn in Jan-Aprm.piqsuite.com
T1
Czech Republic: State budget reports a deficit of CZK 170.2bn in January-Maym.piqsuite.com

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