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Hungary plans to give state preemption rights on land purchases

The ministry of rural development will submit a bill during parliament's extraordinary summer session that would amend Hungary's land law in order to provide the state with preemption rights on land purchases, Rural Development Minister Sándor Fazekas said.

Fazekas said that such preemption rights would hinder speculation and the conclusion of illegal land-purchase contracts, thus promoting the government's objective of defending Hungary's land resources.

They would set up a fund from the land purchased to help young farmers to acquire land and would also lease land to existing farmers. (MTI – Econews)