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Ministry recommends winding up Unite Against State Debt Fund

Telco

Hungary's National Economy Ministry has recommended winding up the Unite Against State Debt Fund, following an audit last year that found payments into the fund had fallen sharply, Hungarian business daily Napi Gazdaság reported today.

Chairman Tihamér Horváth confirmed the audit and its results following a query by the paper, however, he said that a request for the fund's continuation needed to be made to the minister.

The paper reported that payments into the fund fell from HUF 263 mln in 2012, to HUF 23 mln in 2013 and HUF 57 mln in 2014.

The fund was established as part of a private initiative in the spring of 2011 and was expected to draw HUF 2 bln in contributions.

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