Czech Republic President Approves State Budget for 2025

Prague, Dec 18 (NationPress) Czech President Petr Pavel has revealed that he has officially approved the 2025 state budget, which carries a deficit of 241 billion crowns (10.1 billion USD).

Pavel stated on the social media platform X that he engaged in thorough deliberation before making the decision to sign the budget, indicating that the choice was challenging, as reported by Xinhua news agency.

The president mentioned that he had discussions with both Prime Minister Petr Fiala and Finance Minister Zbynek Stanjura, who provided him with personal assurances that the deficit would remain within the planned parameters and that the Budget Responsibility Act would be upheld.

The Chamber of Deputies, which is the lower house of the Czech parliament, ratified the state budget for 2025 earlier this month. In comparison to this year’s revised budget, the deficit is set to decrease by 41 billion crowns, with projected increases in revenues by 146 billion crowns and expenditures by 105 billion crowns, as per the Ministry of Finance.

“With the endorsement of this budget, we will achieve record levels of investment next year, primarily in the development of roads, highways, and railways, alongside initiatives in education, science, and research. All these investments share a common objective— to bolster economic growth and the subsequent increase in citizens’ wages,” Fiala stated on X.

The draft budget, which received approval from both the government and the Chamber of Deputies, faced scrutiny from opposition members of parliament and prominent economists, including the president’s own economic advisor David Marek. It was criticized for vague revenue forecasts, particularly concerning emissions permit sales, and funding for salaries of non-teaching staff in educational institutions.

Stanjura underscored that the budget aligns with the government’s primary objectives. (1 USD = 23.87 Czech crowns)