ADVERTISEMENT

M4 work halted after EC says it suspects cartel activity

History

Hungaryʼs cabinet chief and development minister have ordered construction of a section of the M4 motorway halted because of suspicion of cartel activity raised by the European Commission, the state secretary for development policy communications said yesterday.

The order was made by Cabinet Chief János Lázár and National Development Minister Miklós Seszták, said Nándor Csepreghy. Csepreghy said the government does not agree with the ECʼs suspicion and "final judgment will not take place" unless the suspicion is substantiated. The government wants a full-scale investigation of the suspicion, as public funds are involved, he added.

The European Anti-Fraud Office Olaf is investigating a total of 50 Hungarian investment projects with a total value of nearly HUF 500 bln, Csepreghy said in response to a journalist.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

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

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.