Notification of government deficit and debt - 2017

Annual balance in surplus; government indebtedness declined

23.04.2018
Code: 050062-18
 

Following the regular consultations between Eurostat and the Czech Statistical Office, the data on government balance and government debt as published in the Press release on the 4 October 2018 were confirmed. In 2017, the balance of the Czech government sector reached a surplus CZK 80.6 billion which corresponds to 1.59 percent of GDP. At the end of 2017, the government debt ratio stood at 34.60 percent of GDP.

Notification table of government deficit and debt, the Czech Republic, 2014-2017

 

Unit

Year

2014

2015

2016

2017

Net borrowing/lending of general government

CZK mill.

-90 561

-27 929

34 642

80 621

General government consolidated gross debt

CZK mill.

1 819 098

1 836 255

1 754 883

1 749 141

Gross domestic product (GDP)

CZK mill.

4 313 789

4 595 783

4 773 240

5 055 029

Net borrowing/lending of general government as % of GDP

%

-2.10

-0.61

0.73

1.59

General government consolidated gross debt as % of GDP

%

42.17

39.96

36.77

34.60

At the same time, Eurostat raised no objections against the fiscal indicators compiled by the Czech Statistical Office.

Data for all EU member states will be published on the Eurostat web site on 23 April 2018 at 11:00 a.m.

Notices:
Notification of government deficit and debt is compiled for past four years and submitted to the European Commission by each Member State of the EU at the end of September and March each year under the terms of the Maastricht treaty, including a projection for the current year. Starting from September 2014, quantification of the aggregates is based on the methodology ESA 2010. Pursuant to the Maastricht Treaty, the reference value for fiscal indicators of deficit is set at the level of 3 percent of GDP and for debt at the level of 60 percent of GDP whereas GDP is valued at current market prices. The projection of government deficit and debt for the year 2015 is prepared by the Ministry of Finance of the Czech Republic.

Government surplus/deficit is represented by item B.9 “net borrowing (-) or net lending (+)” in national accounts. It refers to the ability of general government sector to finance other sectors (+) or the need of general government sector to be financed (-) by other economic sectors.

Government debt consists of liabilities of general government sector in form of currency and deposits, debt securities and loans. In case of foreign exchange debt instruments hedged against currency risk, value in CZK is obtained by means of contractual exchange rate.

Responsible manager: Vaclav Rybacek, Ph.D., director of government and financial accounts department, tel.: 274 052 596, e-mail: vaclav.rybacek@czso.cz
Contact person: Jaroslav Kahoun, head of government accounts unit, tel.: 274 054 232, e-mail: jaroslav.kahoun@czso.cz
Coming News release: 03. 10. 2018

This press release was not edited for language.

 

  •      andv042318.docx
  • Annex:
  • Table 1 Notification tables of government deficit and debt, 2014-2017
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Published: 23.04.2018
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz