May 2022

CRIF Czech Credit Bureau held a press conference on May 3, 2022, during which the 2021 financial results of Czech municipalities were presented.

The financial results of municipalities in the Czech Republic were generally good in terms of their total revenues in 2021:

  • Revenues and the budget surplus grew
  • The growth of municipal funds in bank accounts continued, but unfortunately the funds are losing value due to high inflation
  • The volume of loans has been increasing for several years, but the gap between savings and debt continues to widen
  • The only unfavorable news is the reduction in the investment activities of municipalities
  • The reduction of government investment subsidies is the main cause of the decline in the investment activities of municipalities
  • The industries hit most by the decline in municipality investment activities are education, sport and free-time activities, and social care
  • The majority of investment funds was spent on housing, culture and transport
  • Municipalities put aside as much as 6 % of their total revenues 
  • There has been a municipal budget surplus for some years
  • The municipal sector did not exploit the period of low interest rates for their development
  • Future investments will be difficult due to high inflation and growing interest rates

The revamped website was also presented during the press conference, including the ability to order CRIF iRatings and find the basic financial results of each municipality and city in the Czech Republic.

CRIF CCB provides citizens and the media with a comprehensive picture of the financial results of municipalities across the regions of the Czech Republic.

Moreover, CRIF CCB offers the municipality's management iRating certificate containing a financial evaluation of the municipality or a detailed analysis of their financial management and other tailor-made services.

To read the full press release (in Czech)