Czech Republic: Selected Issues

International Monetary Fund

No 2013/243, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes the fiscal strength of the economy of the Czech Republic. Fiscal policy in the Czech Republic has shown a procyclical bias temporarily interrupted during the crisis years. The large stimulus implemented has been more than compensated by a frontloaded adjustment. However, the fiscal framework could be improved to increase transparency, predictability, and credibility of policy and minimize the procyclical bias. This could be achieved by incorporating, among other things, a simple and credible rule with a medium-term fiscal anchor set in structural terms.

Keywords: ISCR; CR; state; debt; crisis; deficit; fiscal policy framework; GDP deflator; fiscal policy in the Czech Republic; desk data; debt break; A. fiscal policy in the Czech Republic; private sector; debt stock; A. fiscal policy; expenditure ceiling; short-term debt; fiscal policy stance; Fiscal stance; Fiscal risks; Europe (search for similar items in EconPapers)
Pages: 21
Date: 2013-08-02
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Citations: View citations in EconPapers (3)

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