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…
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.
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…
Opinion of the CFC No. 3/2023 on the determination of the expenditure frameworks of the state budget and state funds for the years 2024 to 2026. Czech Fiscal Council: I. expresses a dissenting opinion pursuant to Section 12(5) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended (hereinafter referred to as…
Opinion of the CFC No. 2/2023 on general government finances and fiscal and budgetary policy Pursuant to the Section 21(2)(a) 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 that work, it also strives to identify risks and threats…
Opinion of the CFC No. 1/2023 on general government finances and fiscal and budgetary policy.Pursuant to Section 21(2)(a) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended, the Czech Fiscal Council monitors general government finances. As part of that work, it also strives to identify risks and threats that may have…
Opinion of the CFC No. 7/2022 Concerning the development of public sector finances and the set-up of fiscal and budgetary policy. Pursuant to Section 21(2)(a) of Act No. 23/2017 Coll., on the Rules of Budgetary Responsibility, as amended, the Czech Fiscal Council monitors general government finances. As part of that work, it also strives to…
