Ministry of Finance is the central state administration body that, within the Czech system of government, is responsible for public finance and related areas. It was established under Act No. 2/1969 Sb. of the Czech National Council, which set up ministries and other state bodies of the Czech Republic.[1]

Responsibilities

The Act entrusts the ministry with the state budget, the state closing account, and the state treasury. It is also responsible for fiscal policy and macroeconomic and fiscal forecasts, which form the basis for preparing the state budget and the budgets of state funds.[1]

Its remit also includes the financial market, regulation of electronic money issuance, and protection of consumer interests in the financial market. Supervision of the financial market, to the extent of the powers of the Czech National Bank, is excluded from its competence.[1]

It is also the central authority for payment systems as well as for taxes, fees and customs duties, and further for financial management and financial control. It also deals with the financial management of territorial self-governing units (their review), and with the areas of accounting, auditing and tax consultancy.[1]

Other areas include foreign exchange matters, i.e. the state's receivables and liabilities abroad. This also includes protection of foreign investment, as well as gambling. In addition, it covers the administration of state property and its privatization. The ministry is also responsible for the building savings contribution, the state contribution to supplementary pension insurance, and for prices.[1]

Special tasks

The ministry carries out activities aimed against the legalization of proceeds from criminal activity. It also coordinates, at the national level, the application of international sanctions intended to maintain international peace and security, protect fundamental human rights, and combat terrorism. It also deals with how the euro single currency would be introduced in the Czech Republic. It assesses imports of subsidized products and adopts measures to protect the domestic market from them.[1]

Relationship with the Czech National Bank

Together with the Czech National Bank, the ministry prepares draft legislative amendments for the government concerning currency and money circulation. In the same way, drafts of regulations governing the status, competence, organization and activities of the Czech National Bank are prepared. An exception is supervision relating to the financial market, payment systems and the issuance of electronic money.[1]

International relations and accounting

The ministry ensures the Czech Republic's membership in international financial institutions and bodies, including the Organisation for Economic Co-operation and Development and the European Union. This also applies to other international economic groupings, unless membership belongs exclusively to the Czech National Bank. It also coordinates the receipt of foreign aid.[1]

It compiles accounting records for the needs of the state and prepares accounting statements for the Czech Republic in accordance with the Accounting Act.[1]

Donations to reduce the state debt

According to the ministry's website, there is a reserve fund account at the Czech National Bank to which donations intended to reduce the state debt of the Czech Republic can be sent.[1]

Chronology

  • — The Ministry of Finance set a price cap for 1 October 2026 of CZK 48.72 per litre of diesel and CZK 46.14 per litre of petrol. → Czech News Agency / České noviny ČT24
  • — The state budget deficit reached CZK 194.5 billion by the end of September 2026, and according to iROZHLAS it is the fourth-deepest since the establishment of the independent Czech Republic. → Czech News Agency / České noviny iROZHLAS
  • — The Ministry of Finance added the prediction platform Kalshi to the list of unauthorized online gambling games, meaning that internet providers in the Czech Republic must block it. → Lupa.cz Echo24

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Sources

  1. Ministerstvo financí České republiky