Prague budget 2027: investment to rise to CZK 39 billion

Prague’s budget for 2027 is practically ready and will be put to the Prague City Assembly for approval in December. The main feature of the draft is a sharp rise in investment, from CZK 23 billion to CZK 39 billion, representatives of the Prague coalition said.

According to Vlastimil Hlaváček, the budget has been carefully prepared: the city’s finance councillor Zdeněk Kovařík (ODS) and the staff of the budget department did “a very solid job.” The coalition is discussing the draft, but the proposed amendments and reallocations are, in his words, only minor.

When and how the vote will take place

The exact date of the session has not yet been set; the city assembly will fix it in the second half of November. For comparison, in previous years the budget was passed in mid-December: on 15 December in 2022, 14 December in 2023, 12 December two years ago and 11 December last year, when the budget for the current year was approved.

Kovařík said that final comments are still being incorporated into the document, but it will be ready by December. Hlaváček stressed that it is important to present the budget on time so that the districts do not end up in the uncertainty of a provisional budget.

Why the city budget matters to the districts

The reason is that local assemblies can approve district budgets only after “Greater Prague” has approved its own. As a result, some districts, such as Prague 9, regularly start the year under a provisional budget. On Wednesday, the Prague 13 assembly also opted for such an arrangement.

Prague 13 mayor David Vodrážka (ODS) explained that coalition talks are continuing and that it is impossible to predict whether a budget will be adopted before the end of the year. To keep the district running normally, he proposes a provisional budget. According to ČTK, under such an arrangement a district can spend one-twelfth of the previous year’s budget each month. Once the city budget is approved, Vodrážka promises to convene the district assembly within a reasonable time, which he says is standard practice.

Where the billions will go

While the current budget provides CZK 23 billion for investment, the draft for next year could make up to CZK 39 billion available. Kovařík notes that the plan includes substantial housing construction. In addition, many prepared projects have already moved into the implementation phase.

Around Prague, based on reporting by prazskypatriot.cz