Czech Finance Minister Miroslav Kalousek has submitted his third budget proposal for 2013 to the government, showing a CZK 4.1bn decrease in both revenues and expenditures compared to the original proposal the Chamber of Deputies returned for redrafting, as it was not certain whether the tax hike will be approved.The lower house eventually passed the tax hike package, but the left-dominated Senate is expected to return the bill to the Chamber of Deputies. Revenues in 2013 are expected to reach CZK 1080.8bn and expenditures are expected to come in at CZK 1180.8bn, according to this latest proposal. The deficit will stay at 2.9 percent of GDP.
