Public media support fund has HUF 80.5 bln budget for 2015

Telco

Hungary's Media Support and Asset Management Fund (MTVA), whose assets and staff supply the output of Hungary's public media outlets, has a budget of HUF 80.5 bln for 2015, legislation published in Friday's official gazette Magyar Közlöny shows.

The appropriation is up from a HUF 77.9 bln budget in 2014.  Next year, HUF 71.7 bln of the revenue of the fund is to come from the central budget, just HUF 200 mln less than the target in 2014. Commercial revenue is to reach HUF 5.1 bln next year, down from HUF 4.6 bln planned for 2014, and the remaining HUF 3.7 bln will be in residuals from previous years.

On the spending side, MTVA will contribute HUF 570 mln to the public television channels of Magyar Televízió and to Duna Televízió each, the same amount to the public radio, and will provide HUF 700 mln to the public news agency MTI next year. This year all four are to receive HUF 500 mln.

MTVA's budget includes HUF 6.2 bln in principal repayment and HUF 3.6 bln in interest and other financial expenditure. The 2015 budget bill projects the fund's debt at the end of 2015 on loans at HUF 46.5 bln, mainly related to the purchase of its headquarters.  In the same piece of legislation, MPs cleared a budget of HUF 32.4 bln for the National Media and Infocommunications Authority (NMHH) next year, unchanged from 2014. About HUF 18 bln of the NMHH's revenue next year will come from various concession and frequency fees.

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