ADVERTISEMENT

Govt submits bill on new national asset management company

History

Hungary’s government has submitted a bill to Parliament on the National Asset Manager Company (NET), established to buy the homes of troubled borrowers and allow them to continue to reside there as renters until their financial position is consolidated and they can repurchase the properties.

NET was established by government decree at the end of August. The bill outlines its tasks and the conditions for its activities.

The state will buy 5,000 homes through NET by the end of 2014, paying 35-55% of market value depending on location, the government said earlier.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

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.