Prague fell short on investments in 2017

The city of Prague ended 2017 with a budget surplus of CZK 7.45bn on revenues of CZK 77.7bn and expenses of CZK 70.3bn. The result was better than expected, according to novinky.cz, because the city took in CZK 5bn more in tax revenues than was planned for. Expenses were lower in part because the city failed drastically when it came to carrying out investments. Of the CZK 12.4bn set aside for investments, it managed to spend just 53.5 percent, whereas in 2016 it invested nearly CZK 11bn. The city paid off some of its debts but still has CZK 20bn outstanding.