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

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50204 - Business and management

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2021

Kód důvěrnosti údajů

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

Název statě ve sborníku

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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Počet stran výsledku

8

Strana od-do

173-180

Název nakladatele

Jihočeská univerzita v Českých Budějovicích

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

4. 11. 2021

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000835761600028