The Prague Business Journal has reported that the Czech tax collection figure rose by 11.4 per cent year-on-year in the first nine months of this year to 333.6 billion crowns. Although this is good news, the figure is only 72.7% of its original forecast for January to September.
The Finance Ministry announced that overall revenuesfor the period amounted to 454.55 billion crowns against expenditures of 477.20 billion crowns. The 2001 Budget for the whole year was approved with a deficit of 49 billion crowns which included last year's losses from the state bank, Konsolidacni Banka. The Finance Ministry says it now expects a 95 billion shortfall due to Konsolidacni as well as two bond programmes it introduced for drought and flood compensation.
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