The impacts of the Economic crisis on Czech government budget in 2009

This paper analyzes the impacts of the economic crisis on Czech government budget in 2009. The introductory part deals with the theoretical and historical base of the business cycle and with main economic terms. This chapter is summed up with a unified general conclusion of the term economic crisis. Also listed, are descriptions of principles, reasons and consequences of the Financial crisis which originated in 2007 in USA including a comparison to the Great Depression in 30's. The practical part of this paper is focused on the Czech government budget and analyzed for the period of nine months in 2009. Impacts of the crisis and anti-crisis measures on budget revenues, budget expenditures, government and state debt are also addressed in the practical part. The conclusion draws proposals and recommendations to mitigate the impacts of the economic crisis