Lázár: Land auctions revenue could reach HUF 270 bln

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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.

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