Prague ended year with a surplus

Higher revenue and lower spending meant an extra Kč 12.3 billion

Prague ended last year with a surplus of Kč 12.3 billion. This was due to higher revenues and lower expenses than had been expected, according to Deputy Mayor Eva Kislingerová (ANO).

Revenues were at Kč 74.2 billion, or 107.9 percent of what was projected or Kč 5.4 billion more than planned. Expenses were Kč 61.9 billion, or 84.4 percent of the planned budget, or 11.5 billion less than planned.

Tax revenues were boosted by economic growth and improved tax collection, Kislingerová said on the city website.

The city's current spending was Kč 51.14 billion, and investment was Kč 10.82 billion, which was about half of the planned amount. Some projects such as acquiring land for construction were not accomplished, which led to the reduced spending. The lack of investment was not ideal according to Kislingerová. The slowdown in investment was partly due to new rules in selection processes.

The rules are meant to ensure more responsible management of public funds and to prevent unfavorable projects like ones that have drawn criticism in the past,

The highest amount of spending was in public transportation, as is typical.

The largest investment went to the completion of the Central Wastewater Treatment Plant on Císařský ostrov, at about Kč 2.038 billion, and to the construction of the collector at Hlávkův most, where the city invested Kč 61 million. Money also went to support local fire departments, increased school capacity and new tram lines.

The city also reduced its debt burden. It paid off some Kč 9.5 billion including Kč 8.5 billion in early repayment of a loan to the European Investment Bank.

Prague will plan to spend Kč 62 billion this year, with revenues of Kč 47 billion. The difference is to be made up from state contributions.

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