Gov't raises gas price
Hungary will raise the price of natural gas for industrial users from August and increase costs for households, with plans to boost it further, Economy Minister János Kóka said today. The price will rise by 12.6% from Aug. 1, Kóka said at a press conference in Budapest today. He reiterated the price will increase by 30 percent for individual users at the same time and said the now-subsidized cost must near what the government pays for the fuel on the world market. Prime Minister Ferenc Gyurcsány's government is moving toward eliminating price subsidies in the energy, drug and public transport industries to help cut the European Union's largest budget deficit. “We have to move the price of natural gas toward world market prices in the next few years to keep the whole system sustainable,'' Kóka said. “If it would stay the way it is, that would create insoluble tension in the budget.''
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.