25th April 2012

Transparent budget rules passed

At the plenary session, the Senate passed the governmental amendment to the Act on Budget Rules that was proposed by the Ministry of Finance. The aim of the Bill is to prevent from corruption and malpractice during the process of granting state financial support (subsidies). The proposal stipulates obligation for all applicants to provide specific information concerning purpose of the subsidy, terms of projects. Records of the applicants should be available for public enquiry. The Bill concerns the granting process of state subsidies at the state budget level; the Government should discuss a proposal dealing with transparency at the regional and municipal level in June 2012. According to the term of president’s signature, the Act will come into force in three months afterwards.

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Source: explanatory report of the Bill (available at the Chamber of Deputies sites).  

Members of the American Chamber of Commerce in the Czech Republic