Czech budget deficit should be CZK 90bln in 2014 and CZK 80bln in 2015

Finance minister Kalousek said that he has agreed with PM Necas that the budget deficit should be CZK 90bln in 2014 and CZK 80bln in 2015. This means a deficit of 2.7% of GDP in 2014, compared to the original plan of 1.9%, and 2.5% in 2015, instead of 0.9%. The idea is to promote economic growth by spending money on transportation infrastructure, R&D and export promotion. Kalousek said that when the Necas government leaves office, the debt level will be at about 45% of GDP.