{"title":"Bank Gospodarstwa Krajowego Funds as Activities Distorting the Principle of Transparency of Public Finances – Selected Issues","authors":"Kamila Żmuda-Matan","doi":"10.4467/22996834flr.23.010.18594","DOIUrl":null,"url":null,"abstract":"Bank Gospodarstwa Krajowego is a Polish development bank – the only such institution in Poland. Its mission is to support the sustainable socio-economic development of Poland. The subject of activity of Bank Gospodarstwa Krajowego is the implementation of tasks related to the management of government and EU funds and programs created, entrusted or transferred to BGK on the basis of laws or concluded agreements. These are in particular tasks related to the operation of over 30 funds and programs, such as the National Road Fund or the COVID-19 Prevention Fund. The activities of the funds of Bank Gospodarstwa Krajowego affect the basic elements of public finance in Poland, e.g. the principle of openness, transparency, detail, unity or transparency. This impact is assessed rather negatively. The above does not change the fact that the funds are an instrument that makes the financial economy more flexible, the practical importance of which has recently increased significantly. This makes it necessary to attempt to standardize the position of the funds in relation to public finance in the current sense. The analysis covered by the study refers in particular to selected Funds of Bank Gospodarstwa Krajowego, i.e. the COVID-19 Prevention Fund and the National Road Fund. The set goal implied the need to use a dogmatic research method, as well as a legal analysis of acts of generally applicable law.","PeriodicalId":54052,"journal":{"name":"European Company and Financial Law Review","volume":"110 2","pages":"0"},"PeriodicalIF":1.3000,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Company and Financial Law Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.4467/22996834flr.23.010.18594","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"LAW","Score":null,"Total":0}
引用次数: 0
Abstract
Bank Gospodarstwa Krajowego is a Polish development bank – the only such institution in Poland. Its mission is to support the sustainable socio-economic development of Poland. The subject of activity of Bank Gospodarstwa Krajowego is the implementation of tasks related to the management of government and EU funds and programs created, entrusted or transferred to BGK on the basis of laws or concluded agreements. These are in particular tasks related to the operation of over 30 funds and programs, such as the National Road Fund or the COVID-19 Prevention Fund. The activities of the funds of Bank Gospodarstwa Krajowego affect the basic elements of public finance in Poland, e.g. the principle of openness, transparency, detail, unity or transparency. This impact is assessed rather negatively. The above does not change the fact that the funds are an instrument that makes the financial economy more flexible, the practical importance of which has recently increased significantly. This makes it necessary to attempt to standardize the position of the funds in relation to public finance in the current sense. The analysis covered by the study refers in particular to selected Funds of Bank Gospodarstwa Krajowego, i.e. the COVID-19 Prevention Fund and the National Road Fund. The set goal implied the need to use a dogmatic research method, as well as a legal analysis of acts of generally applicable law.
期刊介绍：
In legislation and in case law, European law has become a steadily more dominant factor in determining national European company laws. The “European Company”, the forthcoming “European Private Company” as well as the Regulation on the Application of International Financial Reporting Standards (“IFRS Regulation”) have accelerated this development even more. The discussion, however, is still mired in individual nations. This is true for the academic field and – even still – for many practitioners. The journal intends to overcome this handicap by sparking a debate across Europe on drafting and application of European company law. It integrates the European company law component previously published as part of the Zeitschrift für Unternehmens- und Gesellschaftsrecht (ZGR), on of the leading German law reviews specialized in the field of company and capital market law. It aims at universities, law makers on both the European and national levels, courts, lawyers, banks and other financial service institutions, in house counsels, accountants and notaries who draft or work with European company law. The journal focuses on all areas of European company law and the financing of companies and business entities. This includes the law of capital markets as well as the law of accounting and auditing and company law related issues of insolvency law. Finally it serves as a platform for the discussion of theoretical questions such as the economic analysis of company law. It consists of articles and case notes on both decisions of the European courts as well as of national courts insofar as they have implications on European company law.
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