Outgoing finance minister says additional 10 billion need to be saved

07-06-2010

The outgoing finance minister Eduard Janota has said that an additional 10 billion crowns in expenses will need to be cut in the state budget, if the government wants to retain the deficit within 5.3 percent of GDP. He made the statement during an interview for Czech TV on Sunday, saying overall it was necessary to save 62 billion through increasing revenues and cutting spending. In his view, some expensive state projects needed to be put on hold for the time being, among them the electronic surveillance of prisoners in home detention. Mr Janota said that the Finance Ministry had drawn up a transparent set of steps to deal with the deficit, but said it would be up to the finance minister in the next government to implement individual steps.