National debt.
The issue of the evolution of the national debt is sometimes fiercely debated in public and sometimes data on creditors' claims on the state are even used as a tool for political struggle. The point of view on the subject can vary considerably, not only according to education or political party affiliation, but also according to an overdeveloped or underdeveloped sense of personal responsibility towards one's own country. The current amount of the national debt is 2.895 trillion crowns (as of the end of 2022), and divided among all citizens of our country, regardless of age, gender, social status, education - simply divided into absolutely everyone - the share per person is more than 275 thousand crowns. In the last year under review, the debt increased by 430 billion crowns. Is that alarming, or does it not matter? It is important to take into account the so-called servicing of the national debt, which is a significant item on the expenditure side of the state budget. In 2022, it was about CZK 50 billion, which would not have to worsen our balance sheet if there was no national debt. At the same time, it should be said that investing or even solving unexpected problems "on debt" is an objectively defensible form of management. It therefore remains to be seen whether the expenditure side of the state budget, and public finances in general, is built sensibly, responsibly and with vision. Whether our economy is capable of generating enough money to maintain the high credit rating (Fitch: AA- ) that will allow us to continue borrowing on good to very good terms. Alongside this, however, it will be necessary to consolidate public finances, carry out a thorough pension reform and demonstrate a highly stable business environment in order to achieve a change in the outlook from negative to positive, or at least stable. Despite some reservations and occasional mistrust of the objectivity of credit rating agencies, their ratings are an important criterion respected by financial institutions worldwide. And it affects the lives and debts of all of us.