A. Babiš: CR to get additional CZK 42bn from EU

(ČIA) The adopted draft of the multi-year financial framework and a plan for recovery support was a good compromise for the Czech Republic. Czech PM Andrej Babiš (ANO) stated that after the EU Summit adding that the Czech Republic was able to negotiate additional CZK 42bn for the cohesion policy. The Czech Republic will have CZK 964bn in a period from 2021 to 2027 and can borrow up to CZK 415bn from the recovery fund. According to Mr. Babiš, the Czech Republic received CZK 101.6bn above the plan for the new program period. He said that the Czech Republic was the only country able to raise the possibility to transfer between funds up to 25%. The prime minister said that the Czech Republic will likely use the money from the recovery fund for the support of the automotive industry, healthcare, and the digitization. A plan of reforms will likely be set up by Czech Minister of Industry and Trade and Transport Karel Havlíček (for ANO).



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