NRR: State is unfinanceable from current revenues

(CIANEWS) - The Czech public finances are in a significant imbalance caused by a combination of fiscally imprudent steps and a long-term failure to address the impact of demographic developments. In its report on the state of public finances, the National Budget Council (NRR) stated that the current structural deficit of CZK 220bn will not solve the economic growth, but adjustments to the state budget revenues and expenditures are also necessary. Moreover, the announced interventions in the energy market could place an unprecedented and long-term burden on public budgets. The NRC stated that the state, given its size and the scope of the public services it provides, is not financeable from existing revenues.



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