{"id":7359,"date":"2020-01-28T00:00:00","date_gmt":"2020-01-27T23:00:00","guid":{"rendered":"https:\/\/www.rozpoctovarada.cz\/state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected\/"},"modified":"2022-12-16T13:51:50","modified_gmt":"2022-12-16T12:51:50","slug":"state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected","status":"publish","type":"post","link":"https:\/\/www.rozpoctovarada.cz\/en\/state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected\/","title":{"rendered":"STATE BUDGET ENDED WITH A DEFICIT OF 28.5 BILLION LAST YEAR.  THE OVERALL RESULT WAS ABOVE PLAN, BUT TAX INCOME LOWER THAN EXPECTED."},"content":{"rendered":"\n<p>In\n2019, the state\u2019s finances ended up with a deficit of 28.5 billion crowns, said\nFinance Minister Alena Schillerov\u00e1, at a press conference today.&nbsp; The approved budget planned on a deficit of\n40 billion crowns. <\/p>\n\n\n\n<p>The better-than-expected result was due primarily to non-tax and capital revenues, which were above plan by more than 38 billion crowns.&nbsp; On the other hand, compared to plan, tax income, including social security premiums, lagged by 11 billion crowns, <a href=\"https:\/\/www.mfcr.cz\/cs\/aktualne\/tiskove-zpravy\/2020\/pokladni-plneni-sr-37026\">Ministry of Finance data<\/a> reveals.&nbsp; \u201cThe 2019 state budget deficit ended up being a bit better than planned.&nbsp; That is not bad news.&nbsp; But what I consider more important is the information that, for the first time since 2013, tax income of the state budget did not reach the planned level.&nbsp; Eleven billion crowns is not a great amount in the grand scheme of things, given that the difference amounts to less than 1% of total revenue, but it is a clear reflection of the trend of a slowing economy,\u201d said Chairman of the Czech Fiscal Council Eva Zamrazilov\u00e1.<\/p>\n\n\n\n<p>The deceleration\nof the GDP growth rate was adversely manifest, for example, in the collection\nof VAT, where approximately 8.5 billion less than planned was collected.&nbsp; Nearly five billion less than expected was\nalso the highest income item of the state budget \u2013 social security premiums.<\/p>\n\n\n\n<p>In total,\nstate budget revenue amounted to 1,523.23 billion crowns, being 27 billion\ncrowns higher than originally planned.&nbsp; State\nbudget expenditure also exceeded the plan, by nearly 16 billion crowns.&nbsp; Current expenditure accounted for most of\nthese (in particular, the chapter \u201cOther current expenditure\u201d).&nbsp; Capital expenditure amounted to 139.26 billion\ncrowns, 2.1% higher than planned.<\/p>\n\n\n\n<p>This\nyear\u2019s budget was also approved with a deficit of 40 billion crowns.&nbsp; The Ministry of Finance is expecting a\ncontinued slowing of the rate of economic growth, to 2%; however, it states, at\nthe same time, that the risks of its prognoses are deviated downwards.&nbsp; \u201cIn a situation when most risks to Czech\npublic finance lie abroad, caution is in order.&nbsp;\nThe government should have projects and measures up its sleeve to\nquickly support the economy, if required.&nbsp;\nIt remains to be seen, however, where the government will get money for\nimplementing such measures.&nbsp; Despite the\nfavourable economic situation in recent years, we do not see any major reserves\nto which resort could be had,\u201d says Chairman of the Czech Fiscal Council Eva\nZamrazilov\u00e1.<\/p>\n\n\n\n<p>The Czech Fiscal Council has previously asked the government to preventively prepare specific measures to support the economy.&nbsp; For example, in its <a href=\"https:\/\/unrr.cz\/wp-content\/uploads\/2019\/12\/Statement-of-the-Czech-Fiscal-Council-of-4-December-2019.pdf\">opinion of 4 December 2019<\/a>, it states: \u201cMaintaining the dynamism of economic growth at around 2% is conditioned on the non-materialisation of foreign risks (in particular the introduction of barriers limiting international trade) which would affect primarily the domestic industrial sector.&nbsp; Hence, the CFC is of the opinion (as in its September 2019 opinion) that the government should prepare a specific form of fiscal stimulation for the economy, in the event that extreme risks materialise along with a further loss in the dynamism of economic growth.\u201d<\/p>\n\n\n\n<p>(source of the graph at the beginning: Ministry\nof Finance of the Czech Republic)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2019, the state\u2019s finances ended up with a deficit of 28.5 billion crowns, said Finance Minister Alena Schillerov\u00e1, at a press conference today.&nbsp; The approved budget planned on a deficit of 40 billion crowns. The better-than-expected result was due primarily to non-tax and capital revenues, which were above plan by more than 38 billion&#8230;<\/p>\n","protected":false},"author":3,"featured_media":7078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-7359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-publications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>STATE BUDGET ENDED WITH A DEFICIT OF 28.5 BILLION LAST YEAR. THE OVERALL RESULT WAS ABOVE PLAN, BUT TAX INCOME LOWER THAN EXPECTED. | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rozpoctovarada.cz\/en\/state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"STATE BUDGET ENDED WITH A DEFICIT OF 28.5 BILLION LAST YEAR. THE OVERALL RESULT WAS ABOVE PLAN, BUT TAX INCOME LOWER THAN EXPECTED. | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada\" \/>\n<meta property=\"og:description\" content=\"In 2019, the state\u2019s finances ended up with a deficit of 28.5 billion crowns, said Finance Minister Alena Schillerov\u00e1, at a press conference today.&nbsp; The approved budget planned on a deficit of 40 billion crowns. 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THE OVERALL RESULT WAS ABOVE PLAN, BUT TAX INCOME LOWER THAN EXPECTED. | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rozpoctovarada.cz\/en\/state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected\/","og_locale":"en_US","og_type":"article","og_title":"STATE BUDGET ENDED WITH A DEFICIT OF 28.5 BILLION LAST YEAR. THE OVERALL RESULT WAS ABOVE PLAN, BUT TAX INCOME LOWER THAN EXPECTED. | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","og_description":"In 2019, the state\u2019s finances ended up with a deficit of 28.5 billion crowns, said Finance Minister Alena Schillerov\u00e1, at a press conference today.&nbsp; The approved budget planned on a deficit of 40 billion crowns. The better-than-expected result was due primarily to non-tax and capital revenues, which were above plan by more than 38 billion...","og_url":"https:\/\/www.rozpoctovarada.cz\/en\/state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected\/","og_site_name":"N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","article_publisher":"https:\/\/www.facebook.com\/narodnirozpoctovarada","article_published_time":"2020-01-27T23:00:00+00:00","article_modified_time":"2022-12-16T12:51:50+00:00","og_image":[{"width":2560,"height":1706,"url":"https:\/\/unrr.brilo.work\/wp-content\/uploads\/2022\/12\/MF_1-scaled-1.jpg","type":"image\/jpeg"}],"author":"NRR\/UNRR","twitter_card":"summary_large_image","twitter_creator":"@rozpoctova_rada","twitter_site":"@rozpoctova_rada","twitter_misc":{"Written by":"NRR\/UNRR","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rozpoctovarada.cz\/en\/state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected\/#article","isPartOf":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/state-budget-ended-with-a-deficit-of-28-5-billion-last-year-the-overall-result-was-above-plan-but-tax-income-lower-than-expected\/"},"author":{"name":"NRR\/UNRR","@id":"https:\/\/www.rozpoctovarada.cz\/en\/#\/schema\/person\/66fe9081747f030d761470dcde5b0257"},"headline":"STATE BUDGET ENDED WITH A DEFICIT OF 28.5 BILLION LAST YEAR. 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