Hungary may sell half its planned motorway bonds

Recycling

Hungary will cut the amount of bonds it sells to finance motorway construction this year to between Ft 375 billion ($1.7 billion) and Ft 500 billion, daily Magyar Hírlap reported. Hungary in September planned to sell as much as Ft 750 billion in motorway bonds, reduced the amount after the European Union ruled it couldn't use bonds to finance road projects more than half completed, the newspaper said. Hungary will spend €1 billion-€1.5 billion from the budget to pay for road costs, Magyar Hírlap reported. The government raised its budget deficit forecast to 6.1% of gross domestic product from 4.7% after the EU said it must include motorway construction in the budget.

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.

Support the BBJ

Environment