{"id":7370,"date":"2019-09-17T00:00:00","date_gmt":"2019-09-16T22:00:00","guid":{"rendered":"https:\/\/www.rozpoctovarada.cz\/committee-on-budgetary-forecasts-considers-forecast-made-by-ministry-realistic-2\/"},"modified":"2022-12-29T22:12:05","modified_gmt":"2022-12-29T21:12:05","slug":"committee-on-budgetary-forecasts-considers-forecast-made-by-ministry-realistic-2","status":"publish","type":"post","link":"https:\/\/www.rozpoctovarada.cz\/en\/committee-on-budgetary-forecasts-considers-forecast-made-by-ministry-realistic-2\/","title":{"rendered":"COMMITTEE ON BUDGETARY FORECASTS CONSIDERS FORECAST MADE BY MINISTRY REALISTIC"},"content":{"rendered":"\r\n<p>At its meeting on Thursday, 29 August 2019, the Committee for Budgetary Forecasts considered <a href=\"https:\/\/www.mfcr.cz\/en\/statistics\/macroeconomic-forecast\/2019\/macroeconomic-forecast-april-2019-35799\">the macroeconomic forecast for July<\/a> (and its August update) and August fiscal forecast issued by the Ministry of Finance of the Czech Republic. The Committee saw both forecasts as realistic in terms of how likely they are to be fulfilled in 2019 and 2020.<a href=\"https:\/\/unrr.cz\/wp-content\/uploads\/2019\/09\/Statement-of-the-Committee-for-Budgetary-Forecasts-of-29-August-2019c.docx\"> Four of the eight members of the Committee<\/a> in attendance, including the chair, voted in favour of the macroeconomic forecast\u2019s evaluation. The vote on the fiscal forecast\u2019s evaluation was unanimous. The remaining two members of the ten-member Committee were excused from the meeting.<\/p>\r\n\r\n\r\n\r\n<p><br \/>\u201cDespite some fairly significant differences of opinion on the development of certain macroeconomic parameters and the likelihood of the risks associated with them, most of the Committee members in attendance agreed that the macroeconomic forecast issued by the Ministry appeared to be internally consistent and matched their expectations in key parameters,\u201d said Chair of the Committee for Budgetary Forecasts Pavel Sob\u00ed\u0161ek after the meeting.<\/p>\r\n\r\n\r\n\r\n<p><br \/>The Committee justified its <u><span style=\"color: #000117;\"><a href=\"https:\/\/unrr.cz\/wp-content\/uploads\/2019\/09\/Statement-of-the-Committee-for-Budgetary-Forecasts-of-29-August-2019b.docx\">sta<\/a><\/span><\/u><a href=\"https:\/\/unrr.cz\/wp-content\/uploads\/2019\/09\/Statement-of-the-Committee-for-Budgetary-Forecasts-of-29-August-2019b.docx\">tement<\/a> on the fiscal forecast with budgetary revenues for 2019 and 2020, which, in its view, were realistically predicted by the Ministry of Finance in key areas and corresponded as a whole to the Ministry\u2019s macroeconomic forecast. During the debate, several members nevertheless referred to the risks of failure in achieving the planned revenues, such as the result of possible deterioration in the macroeconomic situation and potential delay in the legislative process, which would affect the discretionary items of the budget. Members of the Committee agreed, however, that the deviations they estimated from the Ministry\u2019s fiscal forecast were not significant enough to prevent evaluating the forecast as realistic.<\/p>\r\n\r\n\r\n\r\n<p><br \/>However, the Committee for Budgetary Forecasts did not simply look at the future at its meeting in August. It also assessed whether the Ministry of Finance\u2019s forecasts and outlook for 2018 had been fulfilled. In its <a href=\"https:\/\/unrr.cz\/wp-content\/uploads\/2019\/09\/Statement-of-the-Committee-for-Budgetary-Forecasts-of-29-August-2019.docx\">statement<\/a>, the Committee said that the forecasts and outlook issued by the Ministry of Finance for the year 2018 reflected actual macroeconomic development in the Czech Republic with sufficient precision over a three-year period.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>At its meeting on Thursday, 29 August 2019, the Committee for Budgetary Forecasts considered the macroeconomic forecast for July (and its August update) and August fiscal forecast issued by the Ministry of Finance of the Czech Republic. The Committee saw both forecasts as realistic in terms of how likely they are to be fulfilled in&#8230;<\/p>\n","protected":false},"author":3,"featured_media":7078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[],"class_list":["post-7370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-committee"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>COMMITTEE ON BUDGETARY FORECASTS CONSIDERS FORECAST MADE BY MINISTRY REALISTIC | 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\/committee-on-budgetary-forecasts-considers-forecast-made-by-ministry-realistic-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COMMITTEE ON BUDGETARY FORECASTS CONSIDERS FORECAST MADE BY MINISTRY REALISTIC | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada\" \/>\n<meta property=\"og:description\" content=\"At its meeting on Thursday, 29 August 2019, the Committee for Budgetary Forecasts considered the macroeconomic forecast for July (and its August update) and August fiscal forecast issued by the Ministry of Finance of the Czech Republic. The Committee saw both forecasts as realistic in terms of how likely they are to be fulfilled in...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rozpoctovarada.cz\/en\/committee-on-budgetary-forecasts-considers-forecast-made-by-ministry-realistic-2\/\" \/>\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=\"2019-09-16T22:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-29T21:12:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/MF_1-scaled-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1706\" \/>\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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"COMMITTEE ON BUDGETARY FORECASTS CONSIDERS FORECAST MADE BY MINISTRY REALISTIC | 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\/committee-on-budgetary-forecasts-considers-forecast-made-by-ministry-realistic-2\/","og_locale":"en_US","og_type":"article","og_title":"COMMITTEE ON BUDGETARY FORECASTS CONSIDERS FORECAST MADE BY MINISTRY REALISTIC | N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","og_description":"At its meeting on Thursday, 29 August 2019, the Committee for Budgetary Forecasts considered the macroeconomic forecast for July (and its August update) and August fiscal forecast issued by the Ministry of Finance of the Czech Republic. The Committee saw both forecasts as realistic in terms of how likely they are to be fulfilled in...","og_url":"https:\/\/www.rozpoctovarada.cz\/en\/committee-on-budgetary-forecasts-considers-forecast-made-by-ministry-realistic-2\/","og_site_name":"N\u00e1rodn\u00ed rozpo\u010dtov\u00e1 rada","article_publisher":"https:\/\/www.facebook.com\/narodnirozpoctovarada","article_published_time":"2019-09-16T22:00:00+00:00","article_modified_time":"2022-12-29T21:12:05+00:00","og_image":[{"width":2560,"height":1706,"url":"https:\/\/www.rozpoctovarada.cz\/wp-content\/uploads\/2022\/12\/MF_1-scaled-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":"2 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