Czechs aim for reduced EU recovery fund loan.
Government of Czech Republic to Scale Back EU Loan for COVID Recovery
The Czech government has announced that it will reduce its planned loan from the European Union’s post-COVID recovery fund. Initially, the loan was set at 137 billion crowns, but it will now be scaled back to 19.4 billion crowns, according to Industry Minister Jozef Sikela. The decision was made after consultations with the European Commission, which determined that some of the necessary funding could be obtained through other channels.
The decision to reduce the loan amount comes after criticism from non-government economists who argued that it would increase debt and deficits in the coming years. The government is already proposing tax hikes and spending cuts to address the budget gap.
The loan will be sourced from the EU’s Recovery and Resilience Facility (RRF), in addition to the grants already provided. The government aims to secure an additional 33.4 billion crowns in grants.
Industry Minister Jozef Sikela explained, “The lowering follows consultations with the European Commission which clearly showed that some type of projects will better be financed from the state budget or, such as in transportation projects, through loans from the European Investment Bank.”
The loan will be utilized for projects related to digitalization, development of computer chips, and affordable housing.
(1 euro = 24.0769 Czech crowns)
(Reporting by Jan Lopatka; Editing by Bernadette Baum)
Other News:
BRICS could be America’s Legion of Doom, John Eastman turns himself in and Do Not Comply when faced with mandates.
Former President Donald Trump is skipping the first Republican presidential primary Wednesday evening. Arizona gubernatorial candidate Kari Lake hailed Trump for the decision, saying the race is already over. One America’s
The president has returned to his vacation after visiting Maui on Monday, two weeks following the deadly wildfire that has officially claimed the lives of at least 115 people, including children.
Dr. Mandy Cohen is the new CDC director after being the secretary of North Carolina’s Department of Health and Human Services.
By Yuvraj Malik (Reuters) -Grab Holdings forecast a smaller operating loss for the current year and pulled forward its profitability timeline on…
(Reuters) -Signups for Netflix in the United States remain elevated despite a fall from June’s record high after the video-streaming pioneer’s crackdown…
(Reuters) -Nvidia shares rose 0.5% on Wednesday on growing expectations that the chip designer will deliver another strong outlook and boost markets…
By Sam Tobin LONDON (Reuters) -A teenage member of the Lapsus$ hacking group was on Wednesday found by a London jury to…
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Now loading...