Czech state debt trimmed to lowest level since 2011

The Czech debt for 2016 should shrink by around 60 billion crowns this year to stand at 1.613 trillion crowns according to minister of finance and ANO leader, Andrej Babiš. That would be the lowest level since 2011. Babiš said that the coalition government had so far trimmed 70 billion crowns off the total state debt. The debt to GDP ratio should fall to 34.3 percent from the end 2015 level of 36.7 percent. Analysts expect the debt to climb by up to 25 billion crowns in 2017.