Fiscal Danger

July 2005
Emerging Europe Monitor: Central Europe & Baltic States;Jul2005, Vol. 12 Issue 7, p6
Country Report
Country Report
The article reports that in contrast to the strong macroeconomic credentials in Czech Republic, the finance ministry has admitted that fiscal deficit of 2005 will overshoot the official target of 4.7% of GDP. The main threat to the Czech Republic's economic outlook and euro convergence programme is the fiscal deficit. After falling significantly in 2004, almost reaching the 3% of GDP ceiling in the eurozone, general government shortfall in 2005 is expected to widen sharply to around 5% overshooting the government's original target of 4.7% of GDP.


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