Budget of the Czech Republic in 2015

Posted by bara 27/11/2014 at 12h29

Governmental coalition The Czech Social Democratic Party, ANO 2011 and the Christian and Democratic Union gained the support of the social partners and the regions for the draft budget for next year. The approved budget reflects government priorities under the Government Policy Statement and it is an important step for positive changes in the Czech Republic. The budget envisages a deficit of 100 billion crowns.

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The approved budget will stabilize health care, lower taxes for families with children, lower taxation of drugs, indexation of pensions and it will also improve the remuneration of workers in the public sector. State employees' salaries will increase by 3.5 percent from November 2014 minimum wage of employees in the business sector will increase from January 2015. It is one of the pro-growth measures that will increase greater household consumption and individual consumption. Tax credit on second and third child increases and tax credit for working pensioners will be restored.

The Ministry of Finance expects spending 1.219 trillion crowns and revenue 1.119 trillion crowns. Ministry for Regional Development will record largest annual increase of money, total by almost 26 percent to 14.7 billion. The largest decline in revenue confesses Ministry of Environment, and almost 28 percent to 9.4 billion. Most chapters of the budget get more money than this year. Only 14 out of 42 will likely be less.

Ministry of Labour and Social Affairs has been traditionally the largest expenditure (half the total - that means more than 533 billion crowns). This is an increase from the approved budget for this year by 1.5 percent. The Ministry of Justice also gets more money - salaries of the security forces should increase by five percent.

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