NRR: Pension deficit to exceed CZK 70bn

(CIANEWS) - The National Budget Council (NRR) stated in its regular quarterly report that a consolidation strategy to move public budgets to more sustainable levels should be presented and largely implemented in 2023. To be feasible, it needs to be reflected already in the 2024 budget. The discussed range of CZK 70bn is, according to the NRR, an adequate value. It added that the most pressing problem is the imbalance of the pension system, where the deficit in 2023, even with reduced extraordinary indexation, will exceed CZK 70bn and will be around 1% of GDP. The NRR believes that the form of indexation should be adjusted systematically, not on a one-off basis.



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