Convergence Programme of the Czech Republic (November 2008)

Published

  • Convergence Programme

 

This note is aimed to provide an update on the fiscal policy developments in the Czech Republic since the beginning of the year (.PDF, 103 kB).Due to the unprecedented development of the economic outlook the government has taken a number of steps in the field of fiscal policy. The note presents their current status and expected fiscal impacts.

This addendum summarizes measures adopted and elaborated by the Czech Republic in response to the economic slowdown. It is elaborated in accordance with the European Economic Recovery Plan, as agreed by the European Council on 11 and 12 December 2008. This plan calls for a fiscal stimulus introduced both at the individual Member States and the European institutions level in an amount of approximately 1.5 % of EU GDP. This effort should help the economies to adjust better to the current unfavourable conditions.

  • Fiscal Policy Set-Up in the Czech Republic for  2009