household debts in Czechia

Gross debt in Czechia

General government debt of Czechia refers to the debts of the state, their states and municipalities, and also of public sector institutions such as social security funds.

The government debt in the period from 2000 to 2021 was between 10.5 billion and 118.4 billion USD. The highest level of the last years at 118 billion US Dollar was reached in 2021. The budget deficit in the same year was 14.3 billion USD.

Based on the number of inhabitants, this is a debt of 11,270 USD per person. For comparison, the average debt per person in the same year in the European Union was 35,341 USD.

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Gross debt of the last 21 years in billion USD

This is how much debt Czechia can afford

In accordance with the Maastricht Treaty, government debt in Czechia is aggregated for the federal, state and local governments as well as state institutions, and therefore includes the debt of all public budgets. As it is gross debt, the government's assets are not deducted. According to the EU convergence criteria, each EU country must meet certain requirements. For the debt budget, these two conditions in particular are decisive:
  • Consolidated gross debt may not exceed 60% of gross domestic product (GDP).
  • The budget deficit, i.e. new annual debt, may not exceed 3% of GDP.
Between 2000 and 2021, Czechia never exceeded the 60% ceiling. The budget deficit was above the 3 percent limit only 12 times. If a country repeatedly fails to comply with these limits, infringement proceedings can be initiated on the part of the EU. During the COVID years in particular, aid programs were launched in most countries to offset the consequences of the economic downturn. Around half of all EU countries were therefore unable to comply with these limits.

At the end of 2021, the debt of all EU countries averaged 92 percent.

YearCzechia total% of GDPper capitaEU per capita
200010.50 bn USD16.99%1,024 USD10,328 USD
200115.40 bn USD22.71%1,507 USD10,404 USD
200221.23 bn USD25.83%2,082 USD11,368 USD
200328.18 bn USD28.16%2,765 USD14,148 USD
200433.99 bn USD28.37%3,333 USD16,162 USD
200537.99 bn USD27.70%3,721 USD16,918 USD
200643.07 bn USD27.56%4,206 USD17,549 USD
200751.97 bn USD27.33%5,046 USD19,574 USD
200866.59 bn USD28.12%6,412 USD22,721 USD
200969.19 bn USD33.36%6,625 USD23,701 USD
201077.50 bn USD37.07%7,399 USD25,145 USD
201191.19 bn USD39.72%8,688 USD28,417 USD
201292.21 bn USD44.15%8,773 USD27,784 USD
201394.03 bn USD44.42%8,943 USD30,021 USD
201487.63 bn USD41.85%8,325 USD30,832 USD
201574.64 bn USD39.70%7,078 USD26,170 USD
201671.80 bn USD36.58%6,795 USD26,655 USD
201774.85 bn USD34.24%7,065 USD27,535 USD
201879.83 bn USD32.06%7,510 USD29,172 USD
201975.89 bn USD30.05%7,111 USD27,927 USD
202092.60 bn USD37.65%8,656 USD32,227 USD
2021118.40 bn USD42.02%11,270 USD35,341 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Czechia       European Union

Budget deficit in Czechia

household debts in CzechiaThe budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurance, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money than at at the beginning, it is a surplus. If it is less, it is called a deficit.

The budget balance in Czechia in the period between 1998 and 2022 varied between -14.33 billion euros and +3.29 billion euros. In 2022, Czechia reached a balance of -10.61 billion euros.

In ratio to population, this equals a new indebtedness of 1,010 euros per capita in Czechia in 2022. For comparison, the average debt per capita in the European Union in the same year was 1,254 euros.

Budget deficit and surplus in the last 24 years

YearCzechia total% of GDPper capitaEU per capita
1998-3.09 bn USD-4.62%-300 USD-398 USD
1999-2.23 bn USD-3.43%-217 USD-204 USD
2000-2.13 bn USD-3.45%-208 USD112 USD
2001-3.60 bn USD-5.31%-352 USD-299 USD
2002-5.15 bn USD-6.26%-505 USD-565 USD
2003-6.41 bn USD-6.40%-628 USD-840 USD
2004-3.23 bn USD-2.70%-317 USD-920 USD
2005-4.23 bn USD-3.09%-415 USD-822 USD
2006-3.38 bn USD-2.16%-330 USD-568 USD
2007-1.24 bn USD-0.65%-120 USD-360 USD
2008-4.68 bn USD-1.98%-451 USD-1,085 USD
2009-11.29 bn USD-5.44%-1,081 USD-2,021 USD
2010-8.69 bn USD-4.16%-830 USD-1,970 USD
2011-6.21 bn USD-2.71%-592 USD-1,463 USD
2012-8.14 bn USD-3.90%-775 USD-1,220 USD
2013-2.72 bn USD-1.28%-259 USD-1,027 USD
2014-4.35 bn USD-2.08%-413 USD-851 USD
2015-1.21 bn USD-0.64%-115 USD-574 USD
20161.40 bn USD0.71%132 USD-421 USD
20173.29 bn USD1.51%311 USD-263 USD
20182.22 bn USD0.89%209 USD-134 USD
20190.73 bn USD0.29%68 USD-191 USD
2020-14.21 bn USD-5.78%-1,329 USD-2,317 USD
2021-14.33 bn USD-5.09%-1,364 USD-1,852 USD
2022-10.61 bn USD-1,010 USD-1,254 USD

(negative numbers = deficit)
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