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The impact of covid-19 on the implementation of the Czech and Slovak state budgets
[Vliv covid-19 na plnění českého a slovenského státního rozpočtu]

Author

Listed:
  • Zuzana Gdovcová
  • Alena Maaytová

Abstract

The paper deals with Czech and Slovak budget policy during the covid-19 pandemic. Due to extensive expansionary measures implemented as part of the budget policy, the Czech and Slovak public finances were disrupted. Deviations in the implementation of the Czech and Slovak state budgets are assessed using a combination of actual values and own forecasts based on SARIMA-based econometric models applied to the 2010-2020 time series. The main goal of the text is to determine the overall impact of the covid-19 pandemic on the management of the Czech and Slovak state budgets caused by increasing public expenditures and a decrease in public revenues. Special attention is paid to the related additional expenses and reduced budget revenues. The results of the most suitable models are used as input data for the autonomous development of the state budgets of the Slovak Republic and the Czech Republic without the influence of the covid-19 pandemic.

Suggested Citation

  • Zuzana Gdovcová & Alena Maaytová, 2024. "The impact of covid-19 on the implementation of the Czech and Slovak state budgets [Vliv covid-19 na plnění českého a slovenského státního rozpočtu]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2024(2), pages 23-42.
    • Handle: RePEc:prg:jnlcfu:v:2024:y:2024:i:2:id:591:p:23-42
    DOI: 10.18267/j.cfuc.591
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    References listed on IDEAS

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    1. Warwick McKibbin & Roshen Fernando, 2021. "The Global Macroeconomic Impacts of COVID-19: Seven Scenarios," Asian Economic Papers, MIT Press, vol. 20(2), pages 1-30, Summer.
    2. David Heald & Ron Hodges, 2020. "The accounting, budgeting and fiscal impact of COVID-19 on the United Kingdom," Journal of Public Budgeting, Accounting & Financial Management, Emerald Group Publishing Limited, vol. 32(5), pages 785-795, September.
    3. Daniela Argento & Katarina Kaarbøe & Jarmo Vakkuri, 2020. "Constructing certainty through public budgeting: budgetary responses to the COVID-19 pandemic in Finland, Norway and Sweden," Journal of Public Budgeting, Accounting & Financial Management, Emerald Group Publishing Limited, vol. 32(5), pages 875-887, October.
    4. Makin, Anthony J. & Layton, Allan, 2021. "The global fiscal response to COVID-19: Risks and repercussions," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 340-349.
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    More about this item

    Keywords

    Fiscal policy; Budgetary policy; State budget; Expansionary policy; Discretionary measures crisis; State aid; Fiskální politika; Rozpočtová politika; Státní rozpočet; Expanzivní politika; Diskreční opatření; Krize; Pandemie; Státní podpora;
    All these keywords.

    JEL classification:

    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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