Czech Prime Minister Petr Nečas said that the Czech government will stick to its goal of keeping the budget deficit below 3 per cent of gross domestic product this year, despite floods that have caused widespread damage across the country.
"We will keep our strategic plan to have a public finance deficit of under 3 per cent of GDP this year", Nečas said. In 2012, the budget deficit was 4.4 per cent of GDP, but it included one-off factors including compensation payments to the Catholic Church for property seized by the former Communist regime after World War Two.
Nečas said the government had earmarked $206.75 million for repairs but that, with new rains swelling rivers again and some towns still under water, more funds would probably have to be allocated.
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