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MNV targets revenue of HUF 89.2 billion in 2010, expenditures of HUF 82.4 billion

Hungary's National Asset Management Company (MNV) targets revenue of HUF 89.2 billion and expenditures of HUF 82.4 billion in 2010, MNV told MTI late Wednesday, after its business plan was approved at a meeting of the National Asset Management Council (NVT).

Dividends are expected to come to about HUF 30 billion and rents and to about HUF 10 billion.

On the expenditure side, MNV will pay HUF 9 billion under the farm land annuity program. Interest payments on bonds exchangeable for shares in drug maker Richter are also a big item.

The 2009 budget targeted HUF 97 billion in revenues related to state-owned assets and HUF 112 billion in expenditures. But MNV CEO Miklós Kamarás told MTI at the end of November that MNV would surpass the revenue target by at least HUF 20 billion, in part because of revenue from the sale of the bonds exchangeable for shares in Richter.

MNV will have to make only a few small changes to meet the letter of the recently approved anti-corruption law because it already complies with most of the points in the law, the NVT said. (MTI-Econews)