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Film production spending in Hungary reaches annual HUF 46 bln

Analysis

Hungary saw an average of 250 cinema and television films, with a production value of almost HUF 46 bln in the period of 2010-2014, the communications directorate of the National Media and Infocommunications Authority (NMHH) told Hungarian news agency MTI.

The NMHH noted that the projection values of "Die Hard 5", "Hercules" and "The Martian" had each exceeded HUF 10 bln.

The authority cited the data after the European Audiovisual Observatory said in a report that spending on film production as a percentage of GDP was by far the highest in Hungary in European comparison.

The NMHH had no information on the degree to which spending on film production had increased budget revenue.

The authority noted that the tax rebate rate for film production had been raised from 20% to 25% this year, and one-fifth of production costs abroad directly related to filming in Hungary are still eligible for the indirect subsidy. The forint's exchange rate may also have made Hungary an attractive location for filmmakers, it added.

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