Czech public debt at the end of the third quarter reached a record 3.334 trillion crowns, or more than 132.1 billion euros. This was reported by the Ministry of Finance of the Republic.
It is reported that since the beginning of the year alone the public debt has increased by 223.1 billion crowns (more than 8.8 billion euros), which increased the country’s debt-to-GDP ratio by 1.5%, up to 42.3%. The main reason for the increase in debt, according to the ministry, was the issuance of government bonds and Treasury bills to cover the budget deficit. The global deficit for 2024 is forecast to be 282 billion crowns (over €11.1 billion), more than €1.1 billion higher than initially forecast, mainly due to coverage of damage from floods. Thus, for every resident of the country there is a debt of 306,460 crowns or more than 12.1 thousand euros.
Let us remember that public debt is public debt obligations. In the Czech Republic, it is mainly formed by the accumulation of government budget deficits and is financed by Treasury bills, government bonds, direct loans or loans from the European Investment Bank.
