One of the main tasks of the Czech Fiscal Council (CFC) under Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended (the “Act”), is to regularly prepare the Report on the Long-Term Sustainability of Public Finances (the “Long-Term Sustainability Report”) and, in accord-ance with Section 21 of the Act, to submit it…
Pursuant to the Section 21(2)(c) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended, the Czech Fiscal Council (CFC) monitors general government finances. As part of this activity, it also seeks to identify risks that may negatively affect the stability of public budgets in the short, medium and long term. Since…
In 2023, public finances were affected by gradual decline in inflation. In the same year, a so-called consolidation package was introduced to help put public finances back on a long-term sustainable trajectory. Given the current low inflation rate and the consolidation efforts, it appears that public finances will return to balance almost immediately and will…
On the 25th of September 2024, the government adopted the draft state budget for 2025, which envisages a deficit of CZK 241 billion The Czech Fiscal Council (CFC) comments on this.
Pursuant to the Section 21(2)(c) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended, the Czech Fiscal Council (CFC) monitors general government finances. As part of this activity, it also seeks to identify risks that may negatively affect the stability of public budgets in the short, medium and long term. Since…
Pursuant to the Section 21(2)(c) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended, the Czech Fiscal Council (CFC) monitors general government finances. As part of this activity, it also seeks to identify risks that may negatively affect the stability of public budgets in the short, medium and long term. Since…
Opinion CFC No. 3/2024 on one-off and temporary measures according to the 4th updated edition of the Methodology for Derivation of the Expenditure Frameworks of the State Budget and State Funds. Read more. Opinion of the CFC No. 2/2024 on the determination of the expenditure frameworks of the state budget and state funds for the…
Pursuant to the Section 21(2)(c) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended, the Czech Fiscal Council (CFC) monitors general government finances. As part of this activity, it also seeks to identify risks that may negatively affect the stability of public budgets in the short, medium and long term. Since…
Pursuant to the Section 21(2)(c) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended, the Czech Fiscal Council (CFC) monitors general government finances. As part of this activity, it also seeks to identify risks that may negatively affect the stability of public budgets in the short, medium and long term. Since…
On 27 September 2023, the Czech government approved the draft state budget for 2024, which assumes a deficit of CZK 252 billion. The Czech Fiscal Council (CFC) comments on this.
GIS reports, 03.10.2023 – gisreportsonline.com. The European Union’s fiscal rules have been inactive for years. While reforms have been proposed, their success is yet to be seen. For more than three years now, all the basic rules of budgetary responsibility in the European Union have been effectively switched off. In March 2020, at the beginning…
One of the key tasks of the Czech Fiscal Council (CFC) under Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended (the Act), is the regular annual preparation of the Report on the Long-Term Sustainability of Public Finances (the Long-Term Sustainability Report) and its submission to the Chamber of Deputies of the…
