Czech Supreme Audit Office recommends systemic reforms

The Czech Supreme Audit Office (NKÚ) has advised systemic reforms and budgetary caution in response to the country’s growing state spending and debt, highlighted in its review of the 2023 state financial report. Despite having a relatively low public debt-to-GDP ratio, the Czech Republic’s debt has risen rapidly, with public debt increasing by 50% over the past three years. NKÚ President Miloslav Kala emphasized the need for immediate reforms to improve the efficiency of public finances, warning that without such changes, the country’s fiscal health will continue to deteriorate.