Czech budget gap may reach 60 billion koruny in 2009, official says
The Czech budget gap in 2009 could reach 50 to 60 billion koruny (2.5 to 3 billion dollars), the CTK news agency reported Thursday citing Czech Finance Minister Miroslav Kalousek, dpa reported.
Parliament's lower house Wednesday approved a 2009 budget with a deficit of 38.1 billion koruny (1.9 billion dollars), which relies on a growth of the country's gross domestic product by 4.8 per cent.
Analysts however say that such growth is unrealistic. The cooling Czech economy is expected to reduce revenues next year, which could cause the gap to expand.