INSTANT VIEW 1-Czech Sept monthly budget surplus CZK 14.1 bln

...billion crown 
surplus in September alone, data showed on Monday. 
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KEY POINTS: 
(in CZK bln)            Jan-Sept 07    Jan-Aug 07    Jan-Sept 06 
 year-to-date balance    36.32          22.23          1.49 
 (For full table, double click on................[nPRA001523]) 
 
- The monthly surplus expanded by 6.2 billion crowns versus a 
year ago period, mainly thanks to an 11.7 billion crown 
year-on-year increase in tax collection in the month of 
September. 
- January-September revenues accounted for 78.8 percent of the 
annual target. Overall expenditures for the period were 68.4 
percent of the plan. 
- January-September revenues were up 11.1 percent year-on-year, 
outpacing the budget's assumptions by 8.2 percentage points. 
Expenditures were up 6.0 percent, outperforming the budget's 
target by 4.0 percentage points. 
- The full-year 2007 budget sees a 91.48 billion crown deficit 
on expenditure of 1,041.00 billion crowns. 
 
COMMENTARY:  
    DAVID MAREK, CHIEF ECONOMIST, PATRIA FINANCE, PRAGUE 
    "The budget performance is significantly better than could 
have been expected at the end of the third quarter. However, we 
can still expect the budget to slip back into the red before the 
year-end. It may not be 91 billion (crown deficit) as approved 
but I think it will range somewhere between 50-60 billion at the 
end of the year. 
    "The reason is clear -- fast economic growth and better than 
expected tax collection." 
 
MARKET REACTION: 
- Crown shows no visible reaction to the release, trading up 
third of a percent on the day at 27.535 per euro . 
 
BACKGROUND: 
- The central state budget is the biggest part of the overall 
public finances, which the ministry forecasts will post a 
deficit of 3.9 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=19.35 Czech Crown) 
  Keywords: CZECH BUDGET/  
    

[PRAGUE/Reuters/Finance.cz]