Deficit in public finances to reach 5.1 percent of the GDP in 2020

27-04-2020

The deficit in public finances in 2020 will reach 5.1 percent of the gross domestic product (GDP), whereas last year it saw a surplus of 0.3 percent of the GDP, according to a document mapping the Finance Ministry’s budgetary strategy.

The overall public debt should rise to 37 percent of the GDP this year, up from last year's 30.8 percent of the GDP. In 2021, public finances should see a deficit of 4.1 percent of the GDP and the public debt should amount to 40 percent of GDP.

Due to the economic impact of the coronavirus crisis the Finance Ministry raised the projected deficit for 2020 from 40 billion crowns to 300 billion.