State budget development could be viewed as positive

There can´t be driven any definitive conclusions after two months of surprisingly good results of the Czech state budget implementation, the Confederation of Industry analyst Bohuslav Čížek commented on February numbers.

Czech state budget registered a 50 billion Kc surplus at the end of February, after 45 billion surplus at the end of January. These are the best January and February results since 2000.

The government should await the next months results to be able to evaluate the impact that the slowly improving economy could have on the budget implementation. State budget development could be viewed, nevertheless, as positive.

The January and February numbers were driven by the inflow of EU subsidies and the revenue from the November auction of frequencies for fast mobile networks, Čížek pointed out.

Tax revenues, except for the collection of social security insurance, increased year to year by almost 15 percent to 107 billion Kc. Value added tax collection rose by more than 18 percent to 46,6 billion Kc. Budget expenditures decreased by 9,5 billion to 181,6 billion Kc.