Last year, the Czech Republic recorded the worst budget deficit in its history

Prague-Sana

Last year, the Czech Republic's state budget recorded the worst deficit in its history.

According to Finance Minister Elena Shelrova, the deficit recorded last year was 367.4 billion kroner, equivalent to 16.6 billion dollars, explaining that this significant increase is due to the effects of the Corona pandemic.

Shilrova attributed the deficit to the decline in tax collections, as an amount of 32 billion kronor was collected from the value of added tax, while 21 billion kronor less taxes were collected from natural persons than in 2019.

The minister pointed out that the state's debt reached 36.9 percent of the value of the gross domestic product at the end of last year.

The Czech state budget for the year 2019 ended with a deficit of 28.5 billion crowns, while the largest deficit before that was recorded in 2009 and was 192 billion CZK.