Lázár: Land auctions revenue could reach HUF 270 bln

Awards

pixabay

Budget revenue from auctions of state-owned farmland could reach HUF 270 bln, Cabinet Chief János Lázár said during his regular weekly press conference Thursday, according to Hungarian news agency MTI.

Hungary started auctioning the land to local farmers last October and will wind up the third and final round of auctions at the end of July.

Around 200,000 hectares of land have been sold to some 40,000 farmers so far. Around 30,000 buyers purchased plots smaller than 3 hectares. 

The government will report to Parliament on the auctions and let lawmakers decide how to spend the revenue from the sales, Lázár said.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.