Dept 37 - Economic Policy Department

The department prepares for the ministry the following: macroeconomic and fiscal analyses, macroeconomic and fiscal forecasts, mid-term fiscal policy scenarios, and public finance development forecasts...

ilustrace

This department carries out conceptual and methodical work on behalf of the Ministry involving analysis, forecasting, projection, economic and econometric modelling in the field of macroeconomic development, the development of public finances and fiscal policy, including selected developmental problems. The department draws up  macroeconomic and fiscal analyses, forecasts, long-term projections and fiscal policy scenarios for the Ministry, particularly for the purposes of formulating economic policy, drafting the state budget and the medium-term budgetary outlook, and for international cooperation in economic policy. The department provides macroeconomic and fiscal modelling for the purposes of analysis, simulation, forecasting and evaluation of the impacts of economic policies. The department formulates recommendations on macroeconomic policy measures and verifies the consistency of economic policies. It develops and is the guarantor of the Czech Republic’s Convergence Programme, the Fiscal Outlook of the Czech Republic, the Macroeconomic Forecasts of the Czech Republic and the Evaluation of the Fulfilment of the Maastricht Convergence Criteria and Degree of the Czech Republic’s Economic Alignment with the Eurozone. It collaborates in the formulation of the Czech Republic’s strategic economic and political documents on macroeconomic and fiscal development and for fiscal policy, and prepares Ministry representatives for meetings of domestic bodies in these areas. It monitors and analyses basic economic and financial trends in the  global economy in terms of their impact on the economic development of the Czech Republic. It draws up comments for the needs of internal and external comments procedures on legislative materials within the scope of its competence and is involved in evaluating their impact on macroeconomic and fiscal development. It is responsible for formalized and informal dialogue between government and non-government economic institutes monitoring the stability and transparency of macroeconomic and fiscal analyses and forecasts. It represents the Ministry in areas that fall within its scope of competence by providing specialised cooperation, consultation and meetings with investment and ratings agencies. In these areas it collaborates with national and international economic and financial organisations, particularly with the European Commission, the Organisation for Economic Cooperation and Development, the World Bank and the International Monetary Fund. It is professionally involved in the economic and fiscal policy agendas in relation to the EU under the auspices of the ECOFIN Council, particularly its EFC and EPC committees and EFC Sub-committee for Statistics. The department is the guarantor for ministerial information and research studies and carries out economic, statistical and econometric research, including cooperation with national and international institutions. The department is the guarantor and coordinator of the methodology for the government finance statistics of the European system of national and regional accounts and the Czech Republic’s main guarantor and coordinator of the methodology for the government finance statistics of the International Monetary Fund.

Units

  • 3701 -  
  • 3702 - Macroeconomic Analyses Unit
  • 3703 - Fiscal Policy and Sustainability Unit 
  • 3704 - Macroeconomic Predictions and Structural Policy
  • 3705 - Economic Modelling Unit