The Czech Republic last year complied with the expenditure and debt rules of budgetary responsibility laid down by Act No. 23/2017 Sb., on the rules of budgetary responsibility (hereinafter referred to as the “Act”). This is the conclusion of the Report on Compliance with the Rules of Budgetary Responsibility for the Year 2018, published on…
On Wednesday 4 September, the Czech Fiscal Council issued its regular quarterly statement with respect to the development of public sector finances and the set-up of fiscal and budgetary policy. Among other things, it states that, in Q2 of this year, the Czech economy noted a year-on-year increase by 2.7%, which is, in principle, in…
Even though the Czech Republic continues to be one of the least indebted countries in the European Union and, in the medium term, its public finance will continue to be in a relatively good condition, when viewed in terms of long-term sustainability, significant changes will have to be made. If the present expense and tax…
Public sector debt in the Czech Republic amounted to 32.7 percent of GDP last year, which made it the fourth lowest of all European Union countries. Based on the most recent Eurostat data, only Estonia (8.4%), Luxemburg (21.4%), and Bulgaria (22.6%) are doing better, leaving Greece with a debt of 181.1% of GDP at the…
