The Chamber of Deputies of the Czech Republic has approved the 2024 state budget with a deficit of €9.5 billion, which is €1.6 billion less than the current year. Revenues are projected at €82.3 trillion, and expenditures at €91.7 trillion.
The budget was supported by 98 members of the ruling coalition and independent deputy Ivo Vondrák. The opposition parties ANO, SPD and the Pirates voted against it. The Senate does not participate in the budget approval process, leaving the final decision to President Petr Pavel.
Critics, including the opposition and presidential advisors, pointed to unrealistic economic growth forecasts, a lack of transparency and underfunding of certain items, such as subsidies for renewable energy. Additionally, the opposition criticized the increase in taxes and higher levies on the self-employed.
Finance Minister Zbyněk Stanjura defended the budget, describing it as balanced and conducive to economic growth. The main priorities of the budget are fiscal consolidation, investments and maintaining social stability.
The budget deficit will be financed by increasing the national debt by €9.8 billion. Economic growth is projected at 2.7%, while inflation is expected to decrease to 2.3%.
