Czech coronavirus aid package to rise to $47 bln -minister

Czech government support for businesses and workers hit by the economic fallout of the novel coronavirus will rise to 1.19 trillion crowns ($47.01 billion), finance minister Alena Schillerova said. The sum is up from earlier pledges of 1 trillion crowns.

The government will offer 216 billion crowns indirect help, including easing tax for firms and aid programs for workers, and most of the rest will come in the form of loan guarantees, Schillerova told Czech Television late on Tuesday. The combined package is worth 20.7% of annual economic output, she said.

The government on Monday raised its central state budget deficit target by 50% to a record 300 billion crowns - roughly equal to the combined budget shortfall seen in 2012-2019. ($1 = 25.3160 Czech crowns)