Department 37 – Economic Policy

The division carries out conceptual and methodological work on behalf of the Ministry concerning the activities of analyses, forecasts, projections, economic and econometric modelling...

ilustrace

Department 37 performs conceptual and methodological work with respect to analyses, forecasts, projections, economic and econometric modelling in the field of macroeconomic development, development of public finances and fiscal policy, including selected problems in their development. The department prepares macroeconomic and fiscal analyses, forecasts, long-term projections and fiscal policy scenarios, especially for the purposes of formulating economic policy, drafting the state budget, medium-term budgetary outlooks, long-term sustainability of public finances and international cooperation in the area of economic policy. The department provides macroeconomic and fiscal modelling for the purposes of analyses, simulations, forecasting and assessments of fiscal impacts of macroeconomic economic policies. The department formulates recommendations for macroeconomic policy measures and examines consistency of economic policies. It is the creator and guarantor of the Convergence Program of the Czech Republic, the Fiscal Outlook of the Czech Republic, Macroeconomic Forecasts of the Czech Republic, Budget Strategies of the Public Institutions Sector of the Czech Republic and the Evaluation of Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Eurozone. It participates in formulating strategic economic policy documents of the Czech Republic in the field of macroeconomic and fiscal developments and in the field of fiscal policy, and oversees preparation of the Ministry’s representatives at meetings of domestic authorities in these areas. It monitors and analyses basic economic and financial tendencies of the world economy in terms of their impacts on economic development of the Czech Republic. In the area of its competence, it participates in evaluations of impacts of legislative measures on macroeconomic and fiscal developments and in the creation of fiscal and budgetary policies of government institutions in relation to compliance with the rules of budgetary responsibility. It is responsible for general oversight of Act No. 23/2017 Coll., on Fiscal Responsibility Rules. It oversees formalized and informal dialogue between governmental and non-governmental economic institutions monitoring the stability and transparency of macroeconomic and fiscal analyses and forecasts, and cooperates in these areas with the Committee on Budgetary Forecasts. On behalf of the Ministry, the department cooperates, consults, meets and negotiates with investment and rating agencies. In these areas, the department cooperates with domestic and international economic and financial organizations, in particular with the European Commission, the Organization for Economic Development and Cooperation, the World Bank and the International Monetary Fund. It participates, in expert position, in the agenda related to economic and fiscal policy in relation to the EU under the responsibility of the ECOFIN Council, in particular its EFC and EPC committees and the EFC Subcommittee on Statistics. The department is the guarantor of information and research studies carried out by the Ministry and carries out research activities in the field of economics, statistics and econometrics, including cooperation with domestic and international institutions. On behalf of the Ministry, Department 37 is the guarantor and coordinator of the methodology for government finance statistics of the European System of National and Regional Accounts and acts for the Czech Republic as the main guarantor and coordinator of the methodology for government finance statistics vis-à-vis the International Monetary Fund. The department is also responsible for collecting selected data for the purposes of monitoring and managing public finances, including its legislative regulation.

Units

  • Unit 3701 – Governmental Financial Statistics and Analyses
  • Unit 3702 – Macroeconomic Analyses
  • Unit 3703 – Fiscal Policy and Sustainability
  • Unit 3704 – Macroeconomic Forecasts and Structural Policies
  • Unit 3705 – Economic Modelling