Czech government seeking to access funds from state companies

27-07-2010

The new centre-right government is seeking the means to access money from state companies in order to boost public finances, according to Tuesday’s edition of Hospodarské noviny. The paper says that there are presently some 8 billion crowns in profits on company accounts that could be put to good use and that over the next four years the government could access another ten billion from state companies such as Budějovický Budvar, the state forestry company Lesy ČR or the country’s postal services. However accessing the funds would require a change of legislation.