Gov't mandates reporting for some building material exports

Construction

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Hungary's government has ordered mandatory reporting of the export of "strategic" construction materials, such as gravel, cement, plasterboard, and steel products, in a decree published in the latest issue of the official gazette Magyar Közlöny.

The decree also gives the state pre-emption rights for the materials that have been reported at a price "in line with their current market value".

Failure to comply with the reporting obligation may result in seizure of the construction materials and fines up to HUF 5 million.

The decree enters force on Friday.

Prime Minister Viktor Orbán revealed the steps to manage rising construction material prices a week earlier. He said curbs on exports of some building materials would be introduced from the fall after the measure is cleared in Brussels.

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