The Czech Republic’s state budget ended with a deficit of CKZ 6.2bn (€243m) in 2017, according to the Ministry of Finance. That’s a significant reversal from 2016 when the country’s coffers took in CZK 61.8bn more than was spent, but it’s still the second best result since 1997. The ministry chalked up the deficit to lower levels of funding from the EU following a reduction of CZK 81.9bn. The national debt currently stands at CZK 1.62 trillion, an CZK 11.3bn increase from a year before. Improved tax collection helped improve the year-end results, as did the improving economy and record-low levels of employment..
