Committee on budgetary forecasts

THE COMMITTE ON BUDGETARY FORECASTS

The Committee on Budgetary Forecasts is tasked with assessing macroeconomic and budgetary forecasts prepared by the Ministry of Finance, particularly in terms of the likelihood of their fulfillment. These are forecasts that will be used not only by the state, but also by state contributory organisations, state funds, public universities, health insurance companies and other public institutions when drawing up their budget and medium-term budgetary outlooks. The outcome of the Committee’s assessment is the Ministry of Finance obliged to disclose and reflect in its forecasts.

The Committee on Budgetary Forecasts was established based on Act No. 23/2017 Coll., on the rules of budgetary responsibility, and its membership is an honorary role. There must be at least seven members of the Committee and they are appointed by the Government on a proposal from the Czech Fiscal Council. The office term of the Committee members is three years.

The current Committee on Budgetary Forecast consists of ten members and includes leading Czech economists from the private, public and academic sectors. In April 2018, as the Chairman of the Committee was named the chief economist of UniCredit Bank, Pavel Sobíšek.

Composition of the Committee on Budgetary Forecasts:

Chairman: RNDr. Pavel SOBÍŠEK, Chief Economist of UniCredit Bank

Vice-Chairman: PhDr. Jakub Seidler, Ph.D., Chief Economist of ING Bank for the Czech Republic

Members (in alphabetical order):

  • Ing. Helena Horská, Ph.D., Chief Economist of Raiffeisenbank
  • Ing. Petr Král, Director of the Currency Division, Czech National Bank
  • Ing. Karina Kubelková, Ph.D., MBA, Chief Analyst and Head of Analysis of the Chamber of Commerce of the Czech Republic
  • Ing. Martin Kupka, CSc., Chief Economist of ČSOB
  • doc. Ing. Daniel Münich, Ph.D., Deputy Director for Research CERGE-EI and Executive Director of the IDEA think tank at CERGE-EI
  • doc. Ing. Tomáš Pavelka, Ph.D., Macroeconomy Analyst of the Czech-Moravian Confederation of Trade Unions
  • Mgr. Michal Skořepa, Ph.D., Macroeconomy Analyst of Česká spořitelna
  • Ing. Jan Vejmělek, Ph.D., CFA, Chief Economist of Komerční banka