First calls for the drawing of financial funds from EU funds in the new 2014-2020 program period may be expected in early 2015.
On August 27, 2014 the government led by Bohuslav Sobotka (ČSSD) approved the draft amendment on the state budget for the year 2014.
The supervision department of the Ministry of Finance of the Czech Republic will employ 86 auditors working for the General Financial Directorate of the Czech Republic beginning October 2014.
The removal of items important for Czech business from the list of sanctions imposed on Russia was a good achievement of the Czech diplomacy.
Czech firms would appreciate better conditions in the visa policy, according to a survey focused on Russian sanctions conducted by the Chamber of Commerce of the Czech Republic.
According to the August survey by the Czech Statistical Office (ČSÚ), the increased confidence in the Czech economy and construction sector is related to the increased construction production index in this year’s first six months.
The European Commission has adopted a Partnership Agreement with the Czech Republic setting down the strategy for the optimal use of European Structural and Investment Funds throughout the country.
The overall indicator of confidence in the Czech economy increased to 8.0 percentage points in August 2014 compared to 7.6 pps in the previous month.
The Czech government coalition has started the gradual raise in expenses on defence from about 1% of GDP towards 1.4% in 2020.
The balance sum of the Czech National Bank (ČNB) totalled CZK 1,205bn as of August 20, 2014.