Notification of government deficit and debt - 2021 (Second notification, data notified by Eurostat)

Based on regular consultations, Eurostat validated the data on the general government sector balance and the general government debt as published in the News Release on 3 October 2022. It was confirmed that the balance of the Czech general government sector ended up with the deficit in the amount of 5.1% of the GDP. The general government gross debt amounted to 42.0% of the GDP in the end of 2021.

“Eurostat validated information about the deficit of government institutions for the year 2021 in the amount of CZK 311.5 bn. and the debt level at the level of 42.0% of GDP,” Helena Houžvičková, Director of the Government and Financial Accounts Department of the CZSO, stated.

Notification table of government deficit and debt, the Czech Republic, 2018–2021

	Unit	Year
	Unit	2018	2019	2020	2021
Net borrowing/lending of general government	CZK mil.	48 292	16 709	-329 216	-311 522
General government consolidated gross debt	CZK mil.	1 734 602	1 740 263	2 149 822	2 566 832
Net borrowing/lending of general government as % of GDP	%	0.9	0.3	-5.8	-5.1
General government consolidated gross debt as % of the GDP	%	32.1	30.0	37.7	42.0

Data for all EU Member States will be published on the Eurostat´s website on 21 October 2022 at 11:00 a.m.

Notes:
Notification of government deficit and debt is compiled always for the past four years and submitted to the European Commission by each Member State of the European Union always at the end of March and September each year. including a projection for the current year. The projection for the current year is compiled and published by the Ministry of Finance of the Czech Republic. Quantification of fiscal indicators is based on the ESA 2010 methodology. Pursuant to the Maastricht criteria. the government deficit must not exceed 3% of the GDP and the level of the accumulated government debt must not exceed 60% of the GDP.

Government surplus/deficit is represented by the item B.9 “net borrowing (−) or net lending (+)” in the system of national accounts. The indicator refers to the ability of the general government sector to finance other sectors of the economy (+) or the need of the general government sector to be financed (−) by other sectors in the given year.

The government debt consists of consolidated liabilities of the general government sector in the form of currency and deposits. issued debt securities. and received loans. In case of foreign exchange debt instruments hedged against currency risk. the value in CZK is obtained by means of a contractual exchange rate.

Responsible head at the CZSO: Helena Houžvičková. Director of the Government and Financial Accounts Department. phone: (+420) 704 688 734. e-mail: helena.houzvickova@czso.cz
Contact person: Jaroslav Kahoun. Head of the Government Accounts Unit. phone: (+420) 274 054 232. e-mail: jaroslav.kahoun@czso.cz
Next News Release will be published on: 3 April 2023

This press release was not edited for language.