Economic Cabinet clears Volánbusz capital raise

Initiatives

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A decision by the governmentʼs Economic Cabinet yesterday clears the way for a capital raise at state-owned bus company Volánbusz, Minister for National Economy Mihály Varga said, as reported today by Hungarian news agency MTI.

The decision gives Volánbusz the opportunity to procure more buses, reducing the average age of its fleet, Varga said. It thereby also gives domestic companies a chance to supply these buses, added the minister, who heads the recently formed cabinet. 

The cabinet also decided on the conditions for an annual HUF 16 billion in central government funding for investments in Pest County over the next five years, Varga said.

Cabinet members also discussed ways to reduce administrative procedures for applicants for home purchase subsidies, he added.

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