TNBiz (TNBiz)
Politics and Events  |  September 21, 2012 10:55:06

The state budget is on shaky foundations, unions say


PRAGUE (MEDIAFAX) - The decline in gross domestic product (GDP) by the percentage to 1.5 percent instead of the Government anticipated a growth of one percent or omissions in the collection of VAT are the problems that are awaiting Czech Republic in the next year. Maintains that Czech-Moravian Confederation of Trade Unions (ČKMOS) in its economic outlook in 2013.

"Citizens, forget wages. Budget is based on laws that have not yet been approved, and it is contrary to the law on budget laws," he said on Friday ČKMOS chairman Jaroslav Zavadil.

Nominal GDP will decline by trade unions, by 0.5 percent. "If our predictions came true would cut public budget revenues by about 30 to 35 billion and the state budget would be chosen by 20 and 25 billion less than the Treasury expected," said Zavadil.

Serious risk, according to union anticipated volume collection of VAT. "Failure at elevated rates will resort by CZK 21.3 billion, with no impact methyl affair," Zavadil said the fact that the VAT increase will bring the state or crown.

Another rickety foundation of the state budget, according to unions launch pension reform. "The risk relates to the expenditure side of the budget. Ministry states that the state budget allows for cost only six billion, we believe that it will be much more," said Zavadil.

Total financial risks proposed state budget for 2013 may vary according ČKMOS at least in the range of 45 to 60 billion.

Francis Bužek, buzek@mediafax.cz

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