THE PROCESS OF BUDGETING AND ISSUES OF INDEBTEDNESS IN THE CZECH REPUBLIC

Article Sidebar

PDF
Keywords:
budgetary process, budgetary outlook, expenditure framework, public entities, regional administrative units, indebtedness

Main Article Content

Hana Marková
Martin Kopecký
Radovan Suchánek

Abstract

The proposal of state budget is based on the medium-term outlook and expenditure framework,which are adopted in the year preceding the year for which the budget is drawn up. Draft documents are presentedby the Ministry of Finance to the government for approval. Consideration of the legislation is entrustedto the Chamber of Deputies. During the approval procedure, the State Budget Act undergoes three readingsand after its approval it represents basis for state’s management in a given year. The public expenses are representednot only by the budgetary expenses, but also by the expenses of state funds, expenses of regional administrativeunits, or expenses of other public entities. Management of public funds is connected to problemsof indebtedness that are being solved in different ways and should be solved through a special legislationgoverning budgetary responsibility in the future.

Article Details

Issue
Vol. 4 No. 2 (2014): The Lawyer Quarterly
Section
Articles

Copyright and originality of the offered manuscript

1. It is assumed that the manuscript offered has not been previously published. It is expected that the authors will inform the editorial board of TLQ if the entire manuscript, its parts or some relevant results have been previously published in a different publication at the level of an article in a reviewed scientific magazine or monograph. Should the editorial board of TLQ conclude that this condition was not fulfilled the review process may be terminated.

2. It is assumed that the submitted manuscript is an original academic work. If that is not the case the author needs to provide information regarding all circumstances that could raise doubts whether the manuscript is the outcome of original research.

3. By submitting the manuscript the author acknowledges that after the publication in The Lawyer Quarterly her/his work will be made available online to the Internet users and also kept by the Library of the Academy of Sciences of the Czech Republic. Author's rights to further use the work remain unabridged.