Bloomberg News

EU to Resume Fund Flows to Czech Republic, Premier Says

July 23, 2012

The European Union will resume payments to some projects it finances in the Czech Republic after problems in the programs were addressed, Prime Minister Petr Necas said.

The EU asked Prague to take corrective measures in management and control systems related to the use of its funds, European Commission President Jose Barroso said in May. Johannes Hahn, the EU commissioner for regional policy, told Necas today that the bloc will restart payments into seven programs “in the coming days,” the Czech premier said in an e-mailed statement.

The Czech public-finance deficit would double to as much as 6 percent of economic output if the 27-nation EU withheld all payments to the projects that are co-financed by the state budget, Necas said on May 24.

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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