PM unveils New Hungary Development Plan


The government has prepared a long-term development plan for the country called the New Hungary Development Plan (NHDP), Prime Minister Ferenc Gyurcsány announced on Thursday.

After restoring balance to the economy and carrying out much-needed reforms, developments must start, Gyurcsány said. He added that the first step required quick and decisive measures.
The NHDP for the EU budgetary period of 2007-2013 focuses on employment and growth, said Gordon Bajnai, government commissioner in charge of the plan. Funding during the period totals Ft 8,000 billion, most of which is EU money. The majority, Ft 7,000 billion, will be allocated via the NHDP and the remaining Ft 1,000 billion through the National Agriculture and Rural Development Strategy, Bajnai said. Bajnai said 75%-80% of funding would be spent on infrastructure, with the rest to be spent on employment and social care-related programs. Bajnai stressed that spending under the fund should decrease the rate at which money is redistributed by the state, and it should draw in more private capital. “We will not put money into a sack with a hole in it,” he said.
The proposed outline of the NHDP will be available online from the National Development Agency homepage from August 1. After it is debated in Parliament, it will go before the National Development Council and the government is scheduled to decide on the plan on September 27. The NHDP must be submitted to Brussels on October 1.


MNB Int'l Reserves Rise EUR 633 mln in November MNB

MNB Int'l Reserves Rise EUR 633 mln in November

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

New Home Prices Edge up 3% Residential

New Home Prices Edge up 3%

Tourism Nights Down 0.2% y.o.y. in October Tourism

Tourism Nights Down 0.2% y.o.y. in October


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.