Czech Republic: Selected Issues in Fiscal Policy Reform

IMF Staff Country Reports, February 28, 2007

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Czech Republic: Selected Issues in Fiscal Policy Reform

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Bibliographic details

• Published: February 28, 2007
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451810257.002

Overview

• This Selected Issues paper examines two key questions on fiscal policy reform in the Czech Republic:
  • How can the fiscal institutional framework be strengthened to maintain discipline and enhance transparency?
  • What are the priorities in expenditure reform that can be implemented without sacrificing the quality of spending?
• The paper discusses the recent Czech experience with the medium-term expenditure framework and some proposals for strengthening it.
• The paper also discusses cross-country analyses of spending efficiency and flexibility, and proposes areas for fiscal adjustment that reduce inefficiencies.

Major themes and analysis

• Fiscal institutional framework
  • Examination of options to strengthen institutions to maintain discipline and enhance transparency.
  • Discussion of the recent Czech experience with the medium-term expenditure framework.
  • Proposals for strengthening the medium-term expenditure framework are presented.
• Expenditure reform priorities
  • Identification of expenditure-reform priorities that preserve spending quality.
  • Cross-country analyses of spending efficiency and flexibility are used to identify inefficiencies.
  • Proposals for areas of fiscal adjustment that reduce inefficiencies are provided.

Findings and propositions (as presented)

• The paper highlights the need to:
  • Strengthen the fiscal institutional framework to maintain discipline and enhance transparency.
  • Implement expenditure reforms that do not sacrifice the quality of spending.
• The medium-term expenditure framework is central to the recent Czech experience and is a focus for proposed reforms.
• Cross-country spending-efficiency and flexibility analyses inform proposed areas for fiscal adjustment to reduce inefficiencies.

Content in this bundle

• Czech Republic: Selected Issues; IMF Country Report 07/85; February 6, 2007
  • Czech Republic: Selected Issues; IMF Country Report 07/85; February 6, 2007 (Markdown version)
  • Czech Republic: Selected Issues; IMF Country Report 07/85; February 6, 2007 (PDF)