Czech Republic will have to return CZK 60 billion in EU subsidies next year, says minister

The Czech Republic will have to return around CZK 60 billion in European Union subsidies next year, the weekly Euro reported, quoting the minister for regional development, Věra Jourová. Her ministry is therefore drawing up an inventory of projects that are failing to draw properly on EU funds in an effort to increase efficiency. Ms. Jourová said it was becoming more likely that fears of potential funding going to waste would come true. Last year CZK 10 billion was not accessed, while this year the figure will evidently be CZK 24 billion and next year even higher at CZK 26 billion, the minister said.

Author: Ian Willoughby