{"id":7362,"date":"2019-11-28T00:00:00","date_gmt":"2019-11-27T23:00:00","guid":{"rendered":"https:\/\/www.rozpoctovarada.cz\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/"},"modified":"2022-12-29T22:22:59","modified_gmt":"2022-12-29T21:22:59","slug":"fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague","status":"publish","type":"post","link":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/","title":{"rendered":"FISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE"},"content":{"rendered":"\r\n

The Czech Fiscal Council, along with the European Commission\u2019s Representation in the Czech Republic, organised a professional conference on the role of independent fiscal councils in EU countries, which was held on Monday 18 November.<\/p>\r\n\r\n\r\n\r\n

The words of introduction by the Czech Fiscal Council Chairman, Eva Zamrazilov\u00e1, and deputy head of the Representation of the European Commission in the Czech Republic, Zden\u011bk \u010cech, were followed by a panel devoted to presentations by representatives of the European Fiscal Board (EFB).<\/p>\r\n\r\n\r\n\r\n

Former Minister of Finance of the Republic of Poland and current EFB member Mateusz Szczurek first noted the objectives of budgetary rules, which include, in particular, long-term sustainability of public finance, anti-cyclic effects of fiscal policy aimed at stabilising the economy and increasing the quality of public finance administration.\u00a0 As concerns adherence to fiscal rules, Szczurek stated that it has improved in the last ten years, but there is still a group of countries with high indebtedness that is not being successfully reduced.\u00a0 Furthermore, the fiscal policies of many countries remain pro-cyclic too frequently.<\/p>\r\n\r\n\r\n\r\n

As the main disadvantages of budgetary rules, Szczurek listed that they are usually too complicated and complex, and in addition it is difficult to enforce sanctions for their breach and hence countries often diverge from them.\u00a0 The suggestion put forward for improvement included, for example, a simplification of the rules or the idea that individual countries could fulfil different debt objectives depending on their national specifications.<\/p>\r\n\r\n\r\n\r\n

After Mateusz Szczurek, the head of the EFB Secretariat, Martin Larch, took the floor.\u00a0 He introduced this year\u2019s Annual Report of the EFB to the audience.\u00a0 One of his main messages was that, even though economic growth in Eurozone countries did slow down last year as compared to 2017, it was still relatively robust.\u00a0 According to Larch, a number of excessively indebted countries did not take advantage of the adverse conditions to form a budgetary \u201ccushion\u201d for worse times.<\/p>\r\n\r\n\r\n\r\n

In the second block of the conference, devoted to the Czech and Slovak experience with independent fiscal institutions, a member of the Slovak Council for Budget Responsibility, Juraj Kotian, spoke first.\u00a0 He stated, on the basis of Slovakia\u2019s seven years of experience with a fiscal council, that, for example, the debt brake, whereby measures aimed at debt reduction are activated automatically after it is reached, is currently the only efficient budgetary rule.\u00a0 Furthermore, Slovakia, which, according to Kotian, experienced attempts at loosening the debt brake rules in 2017, lacks expense limits.\u00a0 Kotian stated that their introduction before the parliamentary election in 2014 will require strong engagement on the part of the Parliament.<\/p>\r\n\r\n\r\n\r\n

The Slovak fiscal council member also pointed to the same things as the speakers before him.\u00a0 To attain the desired effect of the existence of an independent fiscal institution, adequate communication with media and the public will be required in addition to good-quality and precise analyses.\u00a0<\/p>\r\n\r\n\r\n\r\n

The presentation of Juraj Kotian was followed by a presentation of the head of the Fiscal Policy and Sustainability Department of the Ministry of Finance of the Czech Republic, Jind\u0159ich Marval.\u00a0 In his contribution devoted primarily to the institutional anchoring of independent fiscal bodies in the Czech Republic and budgetary responsibility rules arising from Act No. 23\/2017 Coll., he, among other things, compared the original expectations of the Ministry of Finance with the reality.\u00a0 He mentioned, for example, the duplication that he sees, in that the contents of reports on the long-term sustainability of public finance authored by the Czech Fiscal Council overlaps in part with similar documents of the Ministry of Finance of the Czech Republic, the Ministry of Labour and Social Affairs, the European Commission, and the OECD.<\/p>\r\n\r\n\r\n\r\n

According to the main analyst of the Office of the Czech Fiscal Council, Michal Hlav\u00e1\u010dek, evaluation of the long-term sustainability of public finance by several independent institutions is, rather, beneficial, because, among other things, each of them employs its own independent methodology.\u00a0 Furthermore, the Chairman of the Czech Fiscal Council, Eva Zamrazilov\u00e1, noted that the obligation to draw up reports on the long-term sustainability of public finance is imposed on the Czech Fiscal Council by the law.<\/p>\r\n\r\n\r\n\r\n

In his lecture that followed, the Deputy Chairman of the Committee on Budgetary Forecasts, Jakub Sedler, described the first experience of this independent body with the evaluation of macroeconomic and fiscal forecasts of the Ministry of Finance.\u00a0 Seidler mentioned, for example, that the Committee may only work with information that is publicly accessible and he also discussed specific procedures employed by the Committee in its work.<\/p>\r\n\r\n\r\n\r\n

The second block of the conference was closed by the Chairman of the Czech Fiscal Council, Eva Zamrazilov\u00e1, by describing the work of the institution of which she is the head, in its first two years.\u00a0 She also mentioned some of the main findings produced by the Czech Fiscal Council models \u2013 for example, the long-term unsustainability of public finance, arising primarily from future imbalances in the pension system due to the ageing of the population.<\/p>\r\n\r\n\r\n\r\n

The end of the conference was devoted to a lecture by Professor Fredrik N. G. Andersson, of Lund University, in Sweden.\u00a0 Sweden is often referred to as the country with the most successful fiscal framework in all of the EU.\u00a0 Professor Andersson offered the audience a detailed view of how Sweden managed to reduce its debt from 75% to 35% of GDP in the last 25 years. \u00a0According to Andersson, the success is due, for example, to the fact that his country set its own fiscal rules, without accepting them from the outside.\u00a0 Another important factor is that, in Sweden, budgetary rules are regularly reviewed and that many people in the country still remember the crisis of the first half of the 1990s.\u00a0 Furthermore, according to Andersson, the Swedish fiscal council enjoys the confidence of the public and has a strong position in the media.<\/p>\r\n\r\n\r\n\r\n

The Swedish route shows that, even though a significant debt reduction is difficult, it is not impossible to attain.\u00a0 Fiscal institutions, such as the Czech Fiscal Council, have a role to play in that.\u00a0 After all, there was general agreement at the conference that fiscal councils improve parameters of national budgets through the level of their expertise and careful analytical work combined with effective communication.\u00a0<\/p>\r\n\r\n\r\n\r\n

\"\"\r\n
IMG_5902<\/figcaption>\r\n<\/figure>\r\n","protected":false},"excerpt":{"rendered":"

The Czech Fiscal Council, along with the European Commission\u2019s Representation in the Czech Republic, organised a professional conference on the role of independent fiscal councils in EU countries, which was held on Monday 18 November. The words of introduction by the Czech Fiscal Council Chairman, Eva Zamrazilov\u00e1, and deputy head of the Representation of the…<\/p>\n","protected":false},"author":3,"featured_media":7105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[],"class_list":["post-7362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nFISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada\" \/>\n<meta property=\"og:description\" content=\"The Czech Fiscal Council, along with the European Commission\u2019s Representation in the Czech Republic, organised a professional conference on the role of independent fiscal councils in EU countries, which was held on Monday 18 November. The words of introduction by the Czech Fiscal Council Chairman, Eva Zamrazilov\u00e1, and deputy head of the Representation of the...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/\" \/>\n<meta property=\"og:site_name\" content=\"N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/narodnirozpoctovarada\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-27T23:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-29T21:22:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/UNRR_1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2456\" \/>\n\t<meta property=\"og:image:height\" content=\"1637\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"NRR\/UNRR\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rozpoctova_rada\" \/>\n<meta name=\"twitter:site\" content=\"@rozpoctova_rada\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"NRR\/UNRR\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/","og_locale":"en_US","og_type":"article","og_title":"FISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","og_description":"The Czech Fiscal Council, along with the European Commission\u2019s Representation in the Czech Republic, organised a professional conference on the role of independent fiscal councils in EU countries, which was held on Monday 18 November. The words of introduction by the Czech Fiscal Council Chairman, Eva Zamrazilov\u00e1, and deputy head of the Representation of the...","og_url":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/","og_site_name":"N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","article_publisher":"https:\/\/www.facebook.com\/narodnirozpoctovarada","article_published_time":"2019-11-27T23:00:00+00:00","article_modified_time":"2022-12-29T21:22:59+00:00","og_image":[{"width":2456,"height":1637,"url":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/UNRR_1-1.jpg","type":"image\/jpeg"}],"author":"NRR\/UNRR","twitter_card":"summary_large_image","twitter_creator":"@rozpoctova_rada","twitter_site":"@rozpoctova_rada","twitter_misc":{"Written by":"NRR\/UNRR","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#article","isPartOf":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/"},"author":{"name":"NRR\/UNRR","@id":"https:\/\/www.rozpoctovarada.cz\/en\/#\/schema\/person\/66fe9081747f030d761470dcde5b0257"},"headline":"FISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE","datePublished":"2019-11-27T23:00:00+00:00","dateModified":"2022-12-29T21:22:59+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/"},"wordCount":1047,"commentCount":0,"publisher":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/#organization"},"image":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/UNRR_1-1.jpg","articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/","url":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/","name":"FISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","isPartOf":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#primaryimage"},"image":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/UNRR_1-1.jpg","datePublished":"2019-11-27T23:00:00+00:00","dateModified":"2022-12-29T21:22:59+00:00","breadcrumb":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#primaryimage","url":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/UNRR_1-1.jpg","contentUrl":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/UNRR_1-1.jpg","width":2456,"height":1637},{"@type":"BreadcrumbList","@id":"https:\/\/www.rozpoctovarada.cz\/en\/fiscal-councils-improve-national-budget-parameters-agreed-participants-at-an-international-conference-in-prague\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Dom\u016f","item":"https:\/\/www.rozpoctovarada.cz\/en\/"},{"@type":"ListItem","position":2,"name":"FISCAL COUNCILS IMPROVE NATIONAL BUDGET PARAMETERS, AGREED PARTICIPANTS AT AN INTERNATIONAL CONFERENCE IN PRAGUE"}]},{"@type":"WebSite","@id":"https:\/\/www.rozpoctovarada.cz\/en\/#website","url":"https:\/\/www.rozpoctovarada.cz\/en\/","name":"N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","description":"Nez\u00e1visl\u00fd odborn\u00fd org\u00e1n vyhodnocuj\u00edc\u00ed zda st\u00e1t a dal\u0161\u00ed ve\u0159ejn\u00e9 instituce dodr\u017euj\u00ed pravidla rozpo\u010dtov\u00e9 odpov\u011bdnosti dan\u00e1 z\u00e1konem.","publisher":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rozpoctovarada.cz\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.rozpoctovarada.cz\/en\/#organization","name":"\u00da\u0159ad N\u00e1rodn\u00ed rozpo\u010dtov\u00e9 rady","url":"https:\/\/www.rozpoctovarada.cz\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rozpoctovarada.cz\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/11\/Logo-NRR_.png","contentUrl":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/11\/Logo-NRR_.png","width":453,"height":211,"caption":"\u00da\u0159ad N\u00e1rodn\u00ed rozpo\u010dtov\u00e9 rady"},"image":{"@id":"https:\/\/www.rozpoctovarada.cz\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/narodnirozpoctovarada","https:\/\/x.com\/rozpoctova_rada","https:\/\/www.linkedin.com\/company\/unrr","https:\/\/www.youtube.com\/channel\/UCvBj3gmMv19MzBFnz3BDL4Q"]},{"@type":"Person","@id":"https:\/\/www.rozpoctovarada.cz\/en\/#\/schema\/person\/66fe9081747f030d761470dcde5b0257","name":"NRR\/UNRR","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/77746e038431a73758fc8b0f98cfda89a0a2913354ed3ae0279a290f4c29a33a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/77746e038431a73758fc8b0f98cfda89a0a2913354ed3ae0279a290f4c29a33a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/77746e038431a73758fc8b0f98cfda89a0a2913354ed3ae0279a290f4c29a33a?s=96&d=mm&r=g","caption":"NRR\/UNRR"}}]}},"_links":{"self":[{"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/posts\/7362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/comments?post=7362"}],"version-history":[{"count":2,"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/posts\/7362\/revisions"}],"predecessor-version":[{"id":9104,"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/posts\/7362\/revisions\/9104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/media\/7105"}],"wp:attachment":[{"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/media?parent=7362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/categories?post=7362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rozpoctovarada.cz\/en\/wp-json\/wp\/v2\/tags?post=7362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}