02002cas a2200253 a 4500 AALejournalIMF005075 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451869859 1018-5941 BD-DhAAL BD-DhAAL Botman, Dennis. Tax and Pension Reform in the Czech Republic-Implications for Growth and Debt Sustainability / Dennis Botman, Anita Tuladhar. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Czech Republic has embarked on an ambitious tax reform and expenditure package to bring the deficit sustainably below 3 percent, and intends to reduce the deficit to 1 percent of GDP by 2012. To address the long-term fiscal challenge due to population aging, pension reform proposals are also being considered. In this paper we assess the macroeconomic effects of these measures using the Global Fiscal Model. The tax reform package will achieve a more efficient tax system. If implemented successfully with the intended expenditure savings measures, debt is projected to improve markedly while output would expand. Fiscal sustainability will not be restored, however, even if further measures to bring the deficit to 1 percent of GDP by 2012. Instead, raising the retirement age and prefunding future aging costs would be needed to keep debt below 60 percent of GDP through 2050. Mode of access: Internet Tuladhar, Anita. IMF Working Papers; Working Paper ; No. 2008/125 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/125/001.2008.issue-125-en.xml IMF e-Library