INSTANT VIEW 2-Czech Oct monthly budget gap CZK 9.12 bln

...billion crown 
deficit in October alone, data showed on Thursday. 
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KEY POINTS: 
(in CZK bln)            Jan-Oct 07     Jan-Sept 07   Jan-Oct 06 
 year-to-date balance    27.20          36.32        -12.67 
 (For full table, double click on................[nPRA001582]) 
 
- The adjusted full-year 2007 budget plan sees a 91.81 billion 
crown deficit on expenditure of 1,056.25 billion crowns, but the 
finance ministry has projected a lower gap of around 81 billion 
crowns thanks to better than expected tax collection. 
- The ministry says January-October expenditures were by 72 
billion crowns lower than envisaged by the budget while revenues 
were by 31.7 billion crowns higher than planned. 
- January-October revenues accounted for 86.6 percent of the 
annual target. Overall expenditures for the period were 76.5 
percent of the plan. 
- January-October revenues were up 11.6 percent year-on-year. 
Expenditures were up 6.1 percent. 
 
COMMENTARY: 
    DAVID MAREK, CHIEF ANALYST, PATRIA FINANCE 
    "The last three months of a year have traditionally been the 
most demanding from the expenditure point of view. 
    The biggest hit to the overall balance will come in November 
and December and the budget will surely post a deficit at the 
end of the year. 
    "But what is most important is that the end-year result will 
be a far lower number than had been expected." 
 
BACKGROUND: 
- The central state budget is the biggest part of the overall 
public finances, which the ministry forecasts will post a 
deficit of 3.4 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=18.71 Czech Crown) 
  Keywords: CZECH BUDGET/  
    

[PRAGUE/Reuters/Finance.cz]