“These are the first consolidated financial statements of the state, which are already significantly affected by the course of the covid pandemic, especially in the second half of 2020. This is especially evident in liabilities from issued government bonds, state carriers such as Prague Airport and Czech Railways and of course transfer costs. individual ministries, which for the first time in the country’s history exceeded the one trillion crowns limit, “said Finance Minister Alena Schillerová (YES).
The main objective of the consolidated financial statements is to provide information on the financial situation and performance of all entities of the state administration and self-government of the Czech Republic, as if it were one economic unit. This includes 18,159 units, ie ministries and other authorities, regions, municipalities, health insurance companies or significant holdings held by state administration and self-government. “The most important state entities in terms of share of assets and liabilities in 2020 were the Ministry of Finance, CEZ Group, the Capital City of Prague, the Roads and Motorways Directorate and the State Transport Infrastructure Fund,” said Jiří Fojtík, Deputy Minister of Finance for Financial Management and Audit.
The material states that the greatest impact of the pandemic on the financial statements for the Czech Republic was in the case of liabilities from issued bonds, which was mainly reflected in the issuance of bonds by the Ministry of Finance. The state’s economy had another effect, with the state budget deficit rising to 367.4 billion crowns last year. “Total costs increased by 19.9 percent to 3.39 trillion crowns compared to 2019, while total revenues increased by only seven percent to 3.19 trillion crowns, which had an impact on the consolidated profit for the current accounting period,” he said. message.
At the end of 2020, government liabilities rose by 14 percent year on year to 3.4 trillion crowns, of which long-term government bonds issued amounted to 1.94 trillion crowns.
Source: EuroZprávy.cz by eurozpravy.cz.
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