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Babiš: State should provide lower export guarantees

Firms and banks insuring their exports via EGAP should pay up to twice as much than is the current 5%, according to Minister of Finance Andrej Babiš (ANO). The state has had very bad experience with the export bank registering many billions of irrecoverable debts, he added. It is no longer possible for the state to guarantee everything, he said. Commenting on this issue, the director general of the Confederation of Industry, Dagmar Kuchtová, said this was a bad step for the exporters’ competitiveness.