UPDATE 1-Czech FinMin sees 2007 budget approval Tues or Wed

(Adds quote, timing for debate)

PRAGUE, Dec 12 (Reuters) - The Czech 2007 central state budget will probably win parliamentary approval on Tuesday or Wednesday, Finance Minister Vlastimil Tlusty told a news conference on Tuesday.

The parliament, split evenly between leftist and centre-right parties, is due to begin the final reading of the budget draft sometime during a session which begins at 2 p.m. (1300 GMT) on Tuesday.

The opposition Social Democrats backed the budget -- which sees a deficit of 91.3 billion crowns ($4.33 billion) -- in the first reading and the party's shadow Finance Minister, Bohuslav Sobotka, told Reuters that if recommendations by the budget committee are approved, the party would "very likely" support the budget in the final vote.

A parliamentary official said the debate was expected on Wednesday morning.

"This budget... will probably today, and tomorrow at the latest, be approved in the third reading," Tlusty, a member of the ruling rightist Civic Democrats, said.

Tlusty, however, warned against approving extra items which could swell the overall deficit.

The budget includes an expected 31 billion crown revenue from the planned sale of a small stake in power firm CEZ <CEZPsp.PR>.

The central budget is the key part of the public sector finances, which are judged as a whole for the purposes of meeting criteria to join the euro.

The Finance Ministry expects the overall fiscal gap at 4.0 percent of gross domestic product next year.

A deepening fiscal gap has forced Czechs to abandon their 2010 euro adoption target. A new target has not yet been set.

A way to cut the deficit is a key issue in talks between the Civic and Social Democrats on forming a three-party coalition government, which would replace the current administration which lost a confidence vote in October. ((Reporting by Jan Lopatka, editing by David Chrisitan-Edwards; prague.newsroom@reuters.com; Reuters Messaging: jan.lopatka.reuters.com@reuters.net; +420-224 190 474))

($1=21.09 Czech Crown)

Keywords: CZECH BUDGET/TLUSTY