The evolution of the budget for 2023 seems to have caught the authorities by surprise: in the first two months of the year, the difference between government revenues and expenditures is already 1% of GDP. With the situation worrying and statements from the highest level only repeatedly confirmed in recent days, taxpayers have also begun to worry about what comes next: austerity measures, tax increases, both?

To understand where we are going, we must first look at the causes, try to identify them, and then see what solutions exist. First, we must not neglect the international context. During the last three years, there was talk about the beginning of the economic crisis, and the impression was that we avoided it or it was postponed. In fact, world economists agree that the whole world is already experiencing a crisis, but it has a different form and manifestation than the ones we have experienced. We are dealing with overlapping crises, called polycrises, created by the pandemic, the war in Ukraine, the energy crisis, persistently high inflation, tighter financial conditions in the markets, fragmentation of the global economic system with disruption of supply chains, and climate. change.

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