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Parliament Starts Budget Debate, Industry Min Warns Of Possible Electricity Price Increase

CZECHIA
  • The Chamber of Deputies begins a debate on the 2024 budget draft. The proposal submitted to parliament assumes revenues to the tune of CZK1.94tn and expenditures of CZK2.19tn, leaving a fiscal gap of CZK252bn, i.e. CZK43bn narrower than this year. Prime Minister Petr Fiala said that the government is aiming to "reach the goal to have a public budget deficit of less than 3% of GDP next year".
  • Industry and Trade Minister Jozef Sikela warned that the current geopolitical situation in the Middle East may push electricity prices higher. The official told Seznam Zpravy that he was leaning towards a pessimistic estimate of a 10% increase from the start to the new year. Meanwhile, Sikela admitted that his colleagues Finance Minister Zbynek Stanjura and Labour Minister Marian Jurecka were more optimistic and did not see electricity prices rising from January 1.
  • The CNB will publish changes to its balance sheet in the 10 days through October 20 at 12:00BST/13:00CEST. Later in the day, the Cabinet will meet at 13:30BST/14:30CEST, with a media briefing scheduled for 14:30BST/15:30CEST.
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