Zeman signed budget law with a deficit of 280 billion

Jan Handrejch

President Miloš Zeman signed the 2022 budget law on Tuesday, which was adopted last week with a deficit of CZK 280 billion. Prime Minister Petr Fiala (ODS) had already announced that it would probably have to be revised in the context of the war in Ukraine. The president’s signature was announced on Tuesday by the spokesman of the Castle, Jiří Ovčáček.

The budget was initially proposed with a deficit of 97 billion. The approved budget for this year envisages revenues of CZK 1,613.2 billion and expenditures of CZK 1,893.2 billion.

The ruling coalition pushed the current form, while the opposition ANO and SPD movements rejected the proposal. 99 MPs voted in favor of the budget.

Due to Russian aggression against Ukraine and the influx of refugees, the budget will likely be adjusted later in the year. However, as Finance Minister Zbyněk Stanjura (ODS) announced, he needs relevant data to make adjustments.