Press: Babiš’s Agrofert receives record subsidies

The Agrofert Group started by now Prime Minister Andrej Babiš received a record CZK 2.1 billion in subsidies last year, Hospodářské noviny reported on Thursday. In the same period the conglomerate paid CZK 739 million in income tax, the newspaper said.

Agrofert was still owned by Mr. Babiš at the start of 2017. In February last year he placed his shares in a trust fund to avoid a conflict of interest in view of his involvement in politics.

Agrofert obtained the highest single amount of investment subsidies in Germany, where last year it received around CZK 290 million for the construction of a large bakery.

Author: Ian Willoughby