TNBiz (TNBiz)
Macroeconomics  |  September 03, 2012 14:30:05

Budget deficit rose in August to 67 billion, is 20 million less than last year


PRAGUE (MEDIAFAX) - State budget deficit rose in August to 67 billion, the agency reported on Monday Mediafax Treasury. Shortfall that decreased by more than 20 billion crowns, the VAT was raised by 1.6 percent more than last year.

State revenues have reached the end of August 665.1 billion crowns, Republic pay 732.1 billion crowns. Thus, the state could choose over two-thirds of the funds 61.2 percent, an increase of 10.3 billion more.

The budget envisaged for this year with higher performance, at the end of the year should reach a deficit of 105 billion crowns with revenues of 1.087 trillion crowns. The Ministry is also expected to increase due to the reduced rate of VAT to 14 percent gain this year by more than one-sixth greater selection. So far, however, increased tax collection by 1.6 percent, or about 2.1 billion crowns.

"The significant drop in consumption, not for goods and services at a reduced rate, but for goods and services in the basic rate. Compared negative development for the first half of the collection of VAT develops in July and August, much better. Cashing achieved annual growth rates of 6.3 percent in July and 6.2 percent in August, "the ministry hopes to increase will occur in the future.

That they are against plans reduced revenues caused the suspension of funds from the European Union.

Jan Drahorád, drahorad@mediafax.cz

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Schodek rozpočtu vzrostl v srpnu na 67 miliard korun, je o 20 miliard nižší než vloni

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