Kalousek named ‘Finance Minister of the Year’

Czech Finance Minister Miroslav Kalousek has been named “Finance Minister of the Year for Emerging Europe 2011”, an award presented by the Washington-based Emerging Markets magazine. It the second time Mr Kalousek has received the award: he was also named best finance minister in 2008; the award specifically covers areas of post-Communist Europe, as well as other states. In Washington to receive the award on Saturday, Mr Kalousek called it recognition of the current Czech government and Finance Ministry’s steps to consolidate public finances. At the same time the minister reflected on global economic developments and warned that if the Czech economy worsened substantially next year, sharper austerity measures would be needed than those currently planned.

In Emerging Market’s press release, the magazine praised Mr Kalousek for “cautious economic management” which it said had won the Czech Republic its recent credit rating upgrade “amid a worsening global outlook”.

Author: Jan Velinger