INSTANT VIEW 1-Czech May monthly budget gap CZK 8.97 bln

...the year-to-date balance deeper into the 
red, official data showed on Friday. 
 
KEY POINTS: 
(in CZK bln)            end-May 07   end-April 07    end-May 06 
 year-to-date balance   -25.98       -17.01          -12.20 
 
 (For full table, click on......................[ID:nPRA001323]) 
 
- Ministry says the monthly balance slips into a deficit from a 
7.8 billion crown surplus due mainly to a drop in excise tax 
collection. 
- Excise tax revenue falls to 7.6 billion crowns in May 2007 
from 19.9 billion crowns in May 2006, due mainly to dwindling 
tobacco tax income. 
- The ministry says it expects full-year tobacco tax revenue to 
lag its target by 9.4 billion crowns. 
- January-May revenues account for 39.8 percent of the annual 
target. Overall expenditures for the period stand at 38.8 
percent of the plan. 
- January-May revenues up 1.3 percent year-on-year, expenditure 
up 4.8 percent. 
- The full-year 2007 budget sees a 91.3 billion crown deficit on 
expenditure of 1,040.8 billion crowns. 
 
BACKGROUND: 
- The central state budget is the biggest part of the overall 
public finances, which the ministry forecasts will post a 
deficit of 4 percent of gross domestic product (GDP) this year 
under the EU-harmonised ESA-95 fiscal rules. 
 
- For recent stories on the budget, click on [CZ-GVD-POL-RTRS] 
or [CZ-RTRS-DBT]. 
 
LINKS: 
- For an overview of the Czech central government budget, 
Reuters 3000 Xtra users can click on the ministry's website: 
    http://www.mfcr.cz 
 
- For LIVE Czech economic data releases, click on        
- Instant Views on other Czech data                 [CZ/INSTANT] 
- Overview of Czech macroeconomic indicators            [CZ/ECI] 
 
- Key data releases in central Europe    [CEE-CONVERGENCE-WATCH] 
- For Czech money markets data click on                 
- Czech money guide                                       
- Czech benchmark state bond prices                    
- Czech forward money market rates                       
 
  
 ($1=21.07 Czech Crown) 
  Keywords: CZECH ECONOMY/BUDGET