Control of State Debt in the Czech Republic

Abstract

This article focuses on control of state debt in the Czech Republic. State debt contributes the most to the public debt. Although the Czech Republic is one of the countries with the smallest state debts in the European Union, it has also been the country whose debt has grown fastest year-on-year in the last two years. The aim of this article is to investigate the possibilities to improve control of state debt in the Czech Republic. It works with the hypothesis that control of state debt is problematic in the Czech Republic and needs some amendments related to state debt regulation. The article is divided into two parts. First, a theoretical overview of state debt is included, regulation de lege lata is summarized and the current situation relating to state debt during the Covid-19 pandemic is stressed. Second, research findings mentioned in the first part are analysed. By synthesizing these research findings, I suggest amendments de lege ferenda.