Business

 

Economic facts

 

Present

State budget for 2010

On Wednesday 9 December 2009 the members of Parliament approved the state budget for 2010.The formerly proposed deficit in the value of 163 billion crowns was not approved. Parliament proposed and approved certain individual changes, particularly an increase in finances for social services, an increase in direct payments to farmers and balancing state employee wages. The planned budget for 2010 was increased by approximately 12 billion crowns. The ratio of the deficit to the public finances increased from the originally proposed 5.3% to 5.7%. The increase in some tax rates, such as Value Added Tax (VAT) or consumption tax, should result in a flow of cash to the treasury. Taxes will be increased from 1/1/2010.