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Cabinet lets more institutions use State Treasury services

The State Treasury system will probably start expanding its services to more state-run entities. At its regular meeting on Wednesday, November 7, the cabinet approved the Finance Ministry's draft amendment to the State Treasury Act, which would let legal entities established by a special law become clients of the treasury with the consent of the Finance Ministry.

According to the proposed changes, Eximbanka, Slovak Television, Slovak Radio and other state-run companies could enter the system. The amendment considers the specific status of these clients and creates the option for an individualised approach towards them. The clients would enter the system on a voluntary basis.

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

The Finance Ministry expects changes to the law to have a positive impact also on the state budget, it declined to say how much for now.

The State Treasury is an agency of the Finance Ministry that started to operate on January 1, 2004. Its clients are central state administration organs, partly and fully state-subsidised organisations under their supervision, public service institutions and regional offices. The State Treasury has its accounts in the central bank and commercial banks. Its balance-sheet total stood at Sk161 billion in late 2006, which was an increase of 20 percent year-on-year.

-SITA

Compiled by Zuzana Vilikovská from press reports
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