State budget sees record surplus for 2016

The Czech Republic’s state budget for 2016 ended with a surplus of CZK 61.8 billion. That was the best result since the foundation of the country in 1993 and it the first time revenues had exceeded expenditures since 1995. The minister of finance, Andrej Babiš, presented figures for the country’s economic performance last year at a news conference in Prague on Tuesday afternoon. Some analysts say the positive results are in part due to a trimming of investments by some CZK 70 billion, while others argue that the state’s taxation rates are too high.