Opposition criticizes central bankʼs opulent acquisition

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Image by Jessica Fejos

Several members of opposition parties have criticized the Hungarian National Bankʼs (MNB) real estate purchase in February of a luxury villa, the details of which were made known in a press release today.

(Photo: Jessica Fejos)

The purchase of a 2,165 sqm property in Budapestʼs District 12 for HUF 1.3 bln was made by the central bankʼs Pallas Athene Foundation from a company registered in the Virgin Islands, daily Magyar Nemzet reported.

Pallas Athene said the building will be used for research and training purposes and that its price was below market value, according to an independent appraisal. The central bank itself declined to comment, saying that its foundations operated independently.

Socialist lawmaker István Tukács demanded central bank leader György Matolcsi to resign to prevent "further thriftless spending," of which the bank was also accused of earlier this year.

LMP lawmaker, Erzsébet Schmuck, in line with her partyʼs resubmission of a bill to keep public money away from offshore companies, said the government was far from making sure that taxpayerʼs money did not land in offshore companies.

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