Risks of unfavorable demographic development of population aging on public finances of the Czech economy

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F21%3A43904113" target="_blank" >RIV/60076658:12510/21:43904113 - isvavai.cz</a>

Result on the web

<a href="http://omp.ef.jcu.cz/index.php/EF/catalog/book/74" target="_blank" >http://omp.ef.jcu.cz/index.php/EF/catalog/book/74</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Risks of unfavorable demographic development of population aging on public finances of the Czech economy

Original language description

The aging of the population is accompanied by many economic and social changes. A comprehensive health and social system is set aside within the framework of public finances to finance the needs of seniors. According to demographic forecasts, an enormous increase in the social group of the population in the post-productive age - seniors - is expected in the Czech economy from 2035 onwards.From this period, the growth rate of the group will continue to accelerate. Based on the forecast of the expected growth of the mentioned population group, the debt of public finances would reach up to 230% of gross domestic product in 2068 under the currently set state fiscal policy. In this context, we can talk about intergenerational imbalances and the consequent fiscal unsustainability of public finances. For the above reasons, it is quite certain that the current social and health system is not ready for aging and will not be sustainable in its current form. In order to achieve an overall intergenerational balance, the most appropriate tool is a combination of such measures that lead to a balance, especially for current generations and separately for future generations. These instruments consist mainly in the implementation of the reform of the financial security of the social and health care system.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Proceedings of the 15th International Scientific Conference INPROFORUM New trends and challenges in the management of organisations

ISBN

978-80-7394-863-4

ISSN

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e-ISSN

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Number of pages

8

Pages from-to

173-180

Publisher name

Jihočeská univerzita v Českých Budějovicích

Place of publication

České Budějovice

Event location

České Budějovice

Event date

Nov 4, 2021

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000835761600028