TNBiz (TNBiz)
Czech republic  |  September 12, 2012 13:40:11

The government is expected to cut off debate on the state budget deficit 100miliardovým


PRAGUE (MEDIAFAX) - Ministers has the final shape of the state budget for next year, agreed, the government's negotiations broke off in the middle, told Reuters a source familiar with the negotiations. Cabinet of Prime Minister Petr Necas (ODS) acted on the proposal for the first time, sending him to the Chamber of Deputies to the end of September.

The Government also broke discussing budgets of state funds infratruktury transport and housing development. The draft state budget for 2013 envisages a deficit of 2.9 percent of GDP, 100 billion. The condition for keeping the deficit below three percent of GDP, but the approval of the tax changes Chamber of Deputies.

Next year he wants Finance Minister Miroslav Kalousek (TOP 09) into the state treasury to get the same amount of money as the previous year, with 1.084 trillion crowns. Government spending should however decrease by five billion crowns to 1.184 trillion crowns.The state budget deficit is exactly 100 billion. Mandatory spending should increase next year by 4.3 billion to 695.1 billion, non-mandatory spending would be contrary to decline by 9.3 billion crowns. In subsequent years, the ministry wants to reduce the deficit in 2014 is expected to decline to 2.5 percent of GDP, and a year later to 1.6 percent.

To sustain the proposed deficit for next year, however, is passing legislation such as increases both the VAT rate by one percentage point to 15 or 21 percent, introduces seven percent "solidarity" tax on people with incomes of more than 100,000 crowns a month, and other changes. The proposal has been rejected by the Senate last week, MPs did not approve, the government would therefore decided lawmakers submit again, but this time with a vote of confidence in the Cabinet of Prime Minister Petr Necas (ODS).

Consolidation measures include indexation of pensions such as slowing the rise in inflation-third and one-third increase in real wages. The condition for the reality of the budget is also able to draw money from public enterprises, the Ministry of Finance is planning for 2013 to convert four billion crowns from the Forests of the Czech Republic to the state budget.

Kalousek Department is convinced that the proposed measures will save 25.6 billion crowns, on the revenue side wants to get 32.4 billion crowns. Without these steps, the budget deficit climbed up to 158 billion crowns.

Ministry of Finance foresees GDP growth next year by one percentage point, inflation is expected to reach a level of 2.2 percent. Consolidated gross government debt is expected to increase by the end of next year to 1.82 billion crowns, which is 46.4 percent of GDP.National debt is 94.1 percent of the total debt, the rate of growth slows but year.

Officials note that the approved budget for this year may fail to meet the shortfall could reach up to 115 billion, which would be about 10 billion more than last year Nečasův cabinet approved. To blame is to stop drawing from all operational programs, which occurred in the spring. During holidays, some flows from the EU to the Czech treasury restored.

The total budget of the State Housing Development Fund (SFRB) should be achieved in 2013 of 2.583 billion crowns, but if he does not get permission to cross their specified budget limits, the risk is that it will not be able to meet its obligations from previous years.

The proposal allows for revenue while SFRB of CZK 966.2 million and expenditures of 1.617 billion crowns. The budget is compiled in accordance with income and expenditure limits for each state funds that are given overall draft state budget for 2013.

Ministers also interrupted the negotiations on the budget of the State Fund for Transport Infrastructure (SFTI), which should be spending dropped by 1.5 billion. The fund would be the case with the consent of the Cabinet in 2013 to take advantage of 64.5 billion crowns. Budgets of both the government funds most hallowed at the same time as the budget.

Jan Drahorád, drahorad@mediafax.cz

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