The Czech government has approved an updated convergence report that confirms its efforts to reduce the budget deficit to 1.9% of the gross domestic product (GDP) in 2014, the finance ministry said on its website. The government targets to cut the deficit to 4.2% this year down from 4.7% in 2010. The gap is further to be cut to 3.5% in 2012 and to 2.9% in 2013, as the government seeks to achieve a balanced budget by 2016, which will require significant structural changes, finance minister Miroslav Kalousek. The convergence programme is the Czech Republic's basic document for euro adoption and includes the government's budget strategy and planned development of public finances. |
Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more
The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more
The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more