Czech state debt falls as economy improves

Czech state debt falls as economy improves

Published at: 2019-08-05 10:53 | Author: CIJEurope.com
The Czech National Bank has improved its prognosis for the state of the country's public finances through the end of the year. It now expects the national budget to run a surplus of 0.5 percent of GDP, up from the 0.3 percent it anticipated as of May. The trend should continue through 2020, according to the CNB, with another surplus 0.4 percent of GDP expected. As a result of the new estimates, the total level of government debt should fall from 32.6 percent of GDP at the end of last year to just 30.7 percent, with further improvement to 28.9 percent to come in 2020. The same study by the Czech National Bank showed a slightly stronger Czech economy than previously expected, with 2.6 percent GDP growth in 2019 to be followed by 2.9 percent growth in 2020. The numbers assume that the Czech koruna will weaken somewhat, while inflation rises.

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