PRAGUE, Sept 19 (Askume) – The Czech Finance Ministry will provide 30 billion crowns ($1.34 billion) to tackle flood damages as part of the 2024 budget revision, and allocate another 10 billion crowns for it next year, news agency CTK reported.
The worst floods in at least two decades have wreaked havoc across central Europe, killing at least 24 people.
The death toll in the Czech Republic is now five, and the water level is falling.
The Czech government had originally planned a central budget deficit of 252 billion crowns this year, but the costs of dealing with the floods will now push the deficit to 282 billion crowns, CTK quoted Finance Minister Zbyněk Staneczura as saying.
Before the expected change, the ministry expected the overall fiscal gap to be 2.5% of gross domestic product (GDP) in 2024, below the EU limit.
The new amount is equivalent to approximately 0.38% of GDP.
CTK said an additional 10 billion crowns would be allocated to the 2025 budget, and the planned deficit would increase from 230 billion crowns to 240 billion crowns.
“We are now working hard to repair the damage caused by the devastating floods,” Prime Minister Peter Fiala said on Thursday.
“After this, huge investments will be needed to rebuild the affected areas, for which the government will provide PLN 40 billion (over two years).”
(1 USD = 22.4600 CZK)
