BUSINESS BRIEFS

Closure of state funds in question

Finance Minister Brigita Schmögnerová has said the start of public administration reform and the passage of next year's state budget may be threatened if there is no support for a law that would see eight of 12 extra-budgetary state funds abolished.

The minister said October 22 that she had received information the law, which would see the funds closed as of the start of next year, would not be supported by a number of MPs.

The government has guaranteed the World Bank and International Monetary Fund that the funds would be liquidated. The two organisations have deemed them an ineffective use of state money.

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