PRAGUE, Sept 4 (CTK) - The government's first estimate of flood damage at Kc90bn was most likely too optimistic as Finance Minister Bohuslav Sobotka does not rule out that they will top Kc100bn, daily Lidove noviny writes today.
"I fear that the damage will be higher. According to preliminary data I have, the figure is nearing this," he said.
Sobotka stressed that it was just his feeling based on partial information made available to him. "This is not a confirmation that the damage really has topped Kc100bn," Sobotka added.
The Finance Ministry is waiting for precise figures from regions and will publish the total costs of the floods by the end of September.
Sobotka does not think that the economy would be affected in a fundamental manner after the floods. The ensuing slowdown will not have a strong impact on the overall development and the standard of living.
This year's budget deficit, which the ministry puts at Kc68bn, should not be raised notably because of the floods. The growth of the deficit is likely to be lower than in the order of several billion crowns.
"Thus far we have no signals that a shortfall would begin to arise in tax revenues, but we will wait for later statistical data," Sobotka added.