Just a week ago, before deadly floods swept through central Europe, the Czech Republic looked on track to become the first country in the region since COVID-19 to pull its budget deficit firmly below the 3% of GDP cap set by European Union rules.

A massive floodwave moving across Central Europe is threatening new areas and raising concerns among residents and leaders.

The recent severe flooding that impacted Central Europe as a result of continuous rain from September 12-16 is expected to become one of the costliest

The European Union will make billions of euros available to help central Europe recover from severe floods, European Commission President Ursula von der Leyen said on Thursday, as she pledged support for regions that have been devastated by the deluge.

The death toll from the severe flooding in Central Europe has risen to at least 23, according to the latest tally after another victim was confirmed. In the Czech Republic, a fifth death was announced by Interior Minister Vit Rakušan on Thursday.

Severe floods have disrupted financial stability in the Czech Republic and Poland, jeopardizing efforts to control budget deficits post-COVID-19. The damage might cost $10 billion, with EU funds covering only part of the expenses.

Poland joins Austria, the Czech Republic and Romania in being hard hit by floods after record rains in the region that started a week ago. Authorities have reported 23 deaths, with seven each in Poland and Romania, five in Austria and four in the Czech Republic.

A massive flood wave moving across Central Europe has heightened concerns among residents and leaders, causing fatalities and severe infrastructure damage. Heavy rains have led to significant evacuations,

European Union chief Ursula von der Leyen on Thursday pledged billions of euros in aid for Central European countries that suffered enormous damage to infrastructure and housing during the massive flooding that has so far claimed 24 lives in the region.