The Czech lower house of parliament approved today the 2012 state budget draft in the first reading, endorsing a government plan to narrow the fiscal deficit by 22 percent.
Lawmakers in Prague approved the limit for the budget shortfall at 105 billion koruna ($5.7 billion), compared with a deficit target of 135 billion koruna this year. The budget draft still has to go through the second and third readings in which the legislature may not change the deficit goal.
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