Unprecedented Surplus in Czech Municipal Budgets

In an extraordinary financial update, Czech municipalities, regions, and voluntary associations of municipalities have reported a surplus of 77.3 billion korunas for the first three quarters of the year. According to data released by the Ministry of Finance, this marks an unparalleled 28.1 percent increase from the previous year, making it the best financial performance since 2013.

Municipalities alone reported a surplus of 55.2 billion korunas, while regions achieved an excess of 21.5 billion korunas. The remarkable economic performance of these local governments underscores their financial stability and prudent management.

Total revenues from territorial budgets reached 644.9 billion korunas by the end of September, showing a year-on-year increase of 14.5 percent. Tax revenues, in particular, saw a significant uptick, increasing by 15.9 percent to 333.8 billion korunas over three quarters.

Expenditures from territorial budgets amounted to 567.6 billion korunas, marking a 12.9 percent increase compared to the first three quarters of the previous year. Current expenses accounted for 463.1 billion korunas, and capital expenses or investments stood at 104.5 billion korunas.

In addition, territorial budgets allocated 5.8 billion korunas to assist refugees from Ukraine, emphasizing the government’s commitment to humanitarian efforts alongside its strong financial performance. This comprehensive report not only highlights the robust economy of the Czech Republic but also its dedication to the welfare of its residents and those seeking refuge within its boundaries.