Czech State Budget Deficit Narrows in July as Revenue Rises

The Czech central state budget deficit narrowed in the first seven months from a year earlier as government revenue rose.

The shortfall totaled 51.7 billion koruna ($2.5 billion), compared with 61.1 billion koruna in the same period of 2011, the Prague-based Finance Ministry said in an e-mailed statement today. The deficit represented 49 percent of the ceiling of 105.3 billion koruna set for this year.

Budget revenue increased 1.1 percent from a year earlier to 597.4 billion koruna, the ministry said. Government spending dropped to 649.1 billion koruna, 0.5 percent lower from the first seven months of 2011.

-- Editor: Alan Crosby

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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