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 to the Chamber of Deputies of the Parliament of the Czech Republic for consideration.
As in previous Long-Term Sustainability Reports, in this current one the CFC assesses the situation of Czech public finances primarily from a medium- and long-term perspective. In the first case, the key as-sessment indicator is the current and expected level of the structural balance, while in the second case it is the projected evolution of public debt over a 50-year horizon, which approximates the magni-tude of long-term fiscal imbalances.
The whole report is available here.