| Title |
Risks of unfavorable demographic development of population aging on public finances of the Czech economy |
| ID_Doc |
5132 |
| Authors |
Leitmanová, IF; Alina, J; Setek, J; Bajer, D |
| Title |
Risks of unfavorable demographic development of population aging on public finances of the Czech economy |
| Year |
2021 |
| Published |
|
| DOI |
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| Abstract |
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. |
| Author Keywords |
population aging; social and health system; risks to public finances |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Conference Proceedings Citation Index - Social Science & Humanities (CPCI-SSH) |
| EID |
WOS:000835761600028 |
| WoS Category |
Business, Finance; Economics; Management |
| Research Area |
Business & Economics |
| PDF |
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