This thesis aims to analyze investment expenditure from the state budget. Analysed period is chosen from 2005 to 2010. The first chapture deals with public capital expenditure, empasis is placed on comparision with current expenditure. With regard to the economic theory of resource allocation and The Act on Financial Control in the Czech republic reviews how are economy, efficiency and effectiveness controlled there. The impact of political economy on public investmenets is described. The main part of this paper analyzes a trend of investment expenditure, their structure and drawing proportionality. The main focus is on two parts of governmental investment expenditures, these are transport expenditures and military expenditures. The last part draws proposals and recommendations for improving conditions for public investment.