Czech plan sees 2007 budget gap of 4.0 pct/GDP

21.02.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Czech fiscal gap will rise to 4.0 percent of gross domestic product this year from 3.5 percent in 2007, an update to the country's draft...

...euro Convergence Programme showed.

The document, obtained by Reuters on Wednesday, confirmed the outlook that the country would not meet its earlier plan of reducing the deficit to 3.3 percent this year.

The new centre-right goverment has dropped 2010 as the euro adoption target due to the worsening fiscal outlook.

EU members outside the euro area submit annual updates to their convergence plans, normally in November. The Czechs delayed their update due to a political crisis following an inconclusive June election.

The new Convergence Programme is due to be discussed by the cabinet and submitted to the EU by March 15.

[PRAGUE/Reuters/Finance.cz]

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