Sale of military properties expected to generate Ft 33 bln


Hungary's Ministry of Defense expects the sale of more than a hundred former military properties around the country to generate revenue of Ft 33 bln, Defense Minister Imre Szekeres said in an interview published in Tuesday's issue of Napi Gazdaság.

Sales of properties owned by the Ministry of Defense are expected to bring in Ft 15 billion, and sales of military properties owned by the State Treasury Asset Directorate are to generate Ft 18 billion, Szekeres said.

In addition to the properties, the ministry will announce tenders in December for stakes in several military companies, including Arzenal Elektromechanikai, HM Armcom Kommunikációtechnikai and HM Currus Gödöllői Harcjármű-technikai. The state will retain a 50%-plus-one-vote stake in all of the companies, Szekeres said.

He added that the ministry is looking for bidders who are able to develop the companies. Although Hungary's military performance is good, its defense budget is among the lowest of all NATO members, Szekeres said. (Mti-eco)


The New Age of Commerce is Approaching Analysis

The New Age of Commerce is Approaching

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


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.