Wednesday, 21 October 2020

Czechs plan USD 5 bn spending boost as slowdown risks loom

Bloomberg |
17 September 2019

The Czech government will join its peers across emerging Europe in putting more money in the hands of the poor and elderly while also trying to preserve one of the continent's lowest levels of debt. Prime Minister Andrej Babis's cabinet approved a 2020 budget draft Monday that raises spending on pensions, public salaries, roads and railways. While he's counting on the economic expansion to continue bolstering state coffers, critics say the risk of a global slowdown may imperil his projections.