Hungary govt taps half of 2011 reserves in three months
Hungary has spent HUF 52 billion over the past three months from the HUF 90 billion the government laid up earlier this year in general budget reserves, Napi Gazdaság reports based on its own calculations
The government has mainly used the reserves for capital aid for unprofitable state airline Malév and state-owned development bank MFB, an éaid aside HUF 13.4 billion for the state asset manager MNV for undisclosed purposes, the newspaper said.
Last week Prime minister Viktor Orbán said his government needs to save an extra HUF 200 billion this year to meet its deficit target.
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.