2nd January 2015

Ministry to leave only 9 bn CZK unspent

Ministry of Regional Development managed to reduce the amount of unspent European funds from the initial estimated 20 bn CZK at the beginning of the year 2014 to only 9 bn CZK at its end. The ministry managed to prepare action plans with the aim to reduce the amount of funds that would remain unspent facing the challenge to allocate the funds in a sensible and accountable manner. Eventually the ministry managed to send an enormous number of requests to the European Union for the reimbursement of project funds compared to the amount sent earlier. The exact number of funds that would remain unspent is going to be available during the first half of the year 2015. The only thing that remains to be seen is the amount of mistakes and errors that could have been generated in the process in such haste.

For more click here, here and here.

Members of the American Chamber of Commerce in the Czech Republic