Czech state budget ends in Kc21bn surplus in Jan

For the whole of this year, state budget has been approved with a Kc105bn deficit. State budget ended in a Kc142.8bn deficit last year. This year´s January surplus is the highest since the year 2000.

Total revenues at Kc100.2bn were Kc7.6bn higher than in January 2011 and total expenditures at Kc79.2bn are Kc2.8bn below the level of January 2011.

Tax revenues were up Kc6.3bn year on year in January 2012 mainly thanks to Kc3.1bn higher collection of excise duties caused by pre-stocking of tobacco products in connection with the raising of the tax rate as of January 1, 2012.

By expenditures, a change in the method of calculation of direct costs of schools founded by municipalities and regions had a positive effect. By them, advance payments are no more transferred for three months but only for two months.

Author: ČTK
www.ctk.cz