The Czech Finance Ministry is planning to issue CZK 670bn in bonds. More than CZK 192bn of the money raised will go toward covering the budget deficit for 2013 and 2014, ČTK reports. the budget deficit reached CZK 81.3bn last year and is expected to hit CZK 112bn in 2014.
Under the state bond program, approximately CZK 478.7bn in bonds would be used to pay off debts that are due in 2015 and 2016. These include an issue of domestic bonds from 2005 and 2010, and a €300m bond issue from 2009.
