Prime Minister Jan Fischer Meets With OECD Secretary General Ángel Gurría

The economic survey, which Organisation for Economic Co-operation and Development (OECD) Secretary General Ángel Gurría presented at a press conference following a meeting with Prime Minister Jan Fischer, evaluates the current state of the economy, analyses government policy and contains a number of recommendations for further reforms. The OECD continuously prepares this report for all of its member states every 18 to 24 months.

According to the OECD's evaluation, the Czech Republic entered the crisis without major problems. Ángel Gurría appreciated that as opposed to many other countries, the Czech Republic managed to avoid bank rescues. The OECD secretary general also said that he thought it was correct that Czech banks did not engage in risky deals.

The Organisation for Economic Co-operation and Development sees a problem in the growth of the budget deficit and recommends that the Czech Republic not underestimate this situation. According to the OECD, the Czech Republic should especially focus on tertiary education reform, pension reform and health care reform.

The OECD report predicts that the Czech economy will see GDP growth of 2 % in 2010 and 2.8 % in 2011. "Decreasing the deficit to 3 % is of course not enough," Ángel Gurría said at the press conference after the meeting with Prime Minister Fischer. According to him, the government should make long-term efforts toward a structurally balanced budget, and not only due to an aging population. It should focus more on spending in planning its budget.

"The government will have to work on both revenue and expenditure. It is illusory to resolve only one side of the balance," Czech Republic Prime Minister Jan Fischer said in evaluating its fiscal policy.