Regional elections will take place on 20 and 21 September 2024, and there will be a lot at stake. The budgets are in exceptionally good shape, the regions have a total of CZK 140.8 billion in their bank accounts. This represents an increase in savings of 51.5% compared to the end of 2023. Their excellent financial situation is primarily based on an increase in the share of regions in the 2021 budget allocation of taxes. On the other hand, after the adoption of the so-called “recovery package”, the regions‘ share of the total revenue collection of taxes was slightly reduced.

Key Takeaways:

• At the end of 2023, the regions had the highest ever surplus of CZK 16 billion.
• Only one region was in the red, namely the Karlovy Vary region. The others were in surplus.
  At the same time, the regions are able to create significant reserves on their bank accounts.
• Changes in the budgetary allocation of taxes in 2021 increased regional revenues by CZK 10.6 billion.

Analysis – Martin Zeman

The analysis is in PDF under the link below.