In a significant financial development, Prague’s city council has approved a draft budget for the upcoming year, projecting revenues of approximately 110.92 billion crowns against expenditures of 113.49 billion crowns, marking an increase in both income and spending compared to the current year.
The city plans to bridge the budget gap using its own resources from previous years. The budget allocates around 22.29 billion crowns for investments, with an additional 14 billion crowns to be transferred from last year’s unused funds. However, the proposal has faced criticism from opposition parties ANO and Praha Sobě.
The draft budget will now undergo review by council committees and will be posted on the official notice board. City representatives will discuss the proposal at their final session of the year on December 12th.
This budget approval process is particularly crucial for Prague’s districts, as they cannot approve their own financial plans until the citywide budget is finalized. For comparison, the current year’s approved budget includes revenues of approximately 105.8 billion crowns and expenditures of 109.42 billion crowns.