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Gov’t plans to reduce foreign share in state debt financing further

The government aims at financing state debt through Hungarian retail investors and from domestic savings, and to reduce the share of non-resident investors further, economy minister Mihály Varga said when presenting the Prize for Successful Business at a ceremony on Friday.

Non-residentsʼ share in the financing of government debt has dropped to below 25% from 50% in 2010, Varga said, adding that the government plans to reduce the share further in the years to come.

The state will spend almost HUF 800 billion on debt repayment this year, and the debt is on a falling trend, Varga said.

Prizes

The prizes, usually awarded each month, were presented for May and June. 

DS Smith Packaging and Hansa-Kontakt Invest (which drills wells for renewable geothermal energy projects), were named "investor of the month".

DS Smith Packaging received nearly HUF 1 bln in state grant for a HUF 3.4 bln investment. HUF 980 million of Hansa-Kontaktʼs HUF 1.7 bln capacity expansion also came from a grant from the government.

Household and health equipment maker Momert and packaging company Hacona Csomagolastechnologia received the "SME of the month" awards.

VR-AR Education and Pulmoment took the prizes for "start-up of the month".