Data released by the Statistical Office provide evidence that Czech economy is in recession. Economy dropped by 3,4 % in first quarter 2009 after a 0,1 % shrink had been recorded during last quarter of 2008. This represents the largest decrease of economy during the new history of Czech Republic.
The government has introduced amendments to the national budget projection in order to reduce the budget deficit by LVL 500 million (appr. EUR 714 mil.), what represents approximately 10 % of the budget expenditures.
Hungarian parliament approved legislative package aimed at the support of economy on one side and on the other preventing the emergence of large fiscal deficit.
