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…
The annual mission of the International Monetary Fund to the Czech Republic was carried out between 30 April and 14 May 2019. Aiming to independently evaluate each IMF member state, the programme of the two-week visit included the first ever discussion with members of the Czech Fiscal Council. This was because in its concluding statement,…
On Thursday, 25 April, the National Budget Council held its first roundtable—a discussion between economists from the public, academic and private sectors. The aim was to exchange opinions on certain topics that the National Budget Council examines when assessing the sustainability of public finances. These were primarily areas that economists in the Czech Republic and…
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…
The Committee on Budgetary Forecasts met on Monday 15 April 2019, its second meeting of the year. In contrast to January’s meeting, this time the Committee evaluated not only the latest macroeconomic forecast of the Ministry of Finance of the Czech Republic but also the ministry’s fiscal forecast. The Committee viewed April’s macroeconomic forecast ,…
In its April macroeconomic predictions , the Ministry of Finance anticipates that the domestic economy will grow year-on-year by 2.4%. This new prediction is one tenth of a percentage point lower than January’s. At this time last year, the ministry predicted 3.3% growth for 2019. The anticipated economic growth for next year, however, has not…
