Finance Minister Babiš earmarks more state firms for contributions to state budget

Minister of Finance Andrej Babis has extended the list of state companies whose bank account surpluses could be used to help the state budget. Babis told journalists that Czech Post, oil pipeline company MERO, fuel distribution company ČEPRO, and the State Institute for Drug Control could all contribute to the state coffers. He has already said that almost 70 percent state controlled power company ČEZ could pay out its total profits for 2013 in dividends and that he is counting on around 4 billion crowns from the state forestry company. Former finance minister Miroslav Kalousek on Tuesday attacked Babiš for raiding the accounts of state firms saying that funds should be left with them to develop the firms.

Author: Chris Johnstone