Czech Republic economic outlook 2012-2013

World Economic outlook - Czech Republic economic outlook 2012-2013 : The Czech Republic has adopted the budget for 2012, one of austerity, which relates to reducing the deficit by taking some unpopular measures. Next year’s target for the budget deficit is 3.5% of GDP, 0.9% less than current year. The budget sets the shortfall limit at 105 billion koruna ($5.3 billion), after a gap of 135 billion koruna planned for this year.