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FinMin wants state treasury system to serve more clients

The state treasury system will probably open its door to more state bodies that are not currently its clients, according to a Finance Ministry draft amendment to the State Treasury law.

Under the draft, legal entities established by a special law could become state treasury clients after they get consent from the Finance Ministry.

According to the proposed changes, the EXIM Bank, Slovak Television, Slovak Radio and other state-run companies could join the system.

The proposed changes would come into effect on January 1 next year.

The State Treasury is an agency of the Finance Ministry that started to operate on January 1, 2004. Its clients are central state administration bodies, partly and fully budget-subsidised organizations under their supervision, public service institutions and district offices.

The State Treasury has its accounts in the central bank and commercial banks. In line with State Treasury law, it can use its surplus funds to cover the gap between the state budget income and revenues.

-SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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