NRR: Pandemic has highlighted unsustainability of public finances

(ČIA) UPDATE - Czech public finances are unsustainable in the long run with the current setting of tax and expenditure policies. The National Budget Council (NRR) informed that the updated projection shows that the debt brake may be breached as early as 2043, four years earlier than indicated in the 2019 projection. The debt-to-GDP ratio could at the end of the 50-year horizon reach up to 298%. In response, the Ministry of Finance of the Czech Republic stated that an appropriate fiscal stimulus would, on the contrary, lead to a mitigation of the recession and, as a result, to a mitigation of the negative effects of the pandemic on the long-term sustainability of public finances.



Register newsletter

Get to know about Nordic Chamber, our press releases and all news, straight to your inbox.