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Gov’t to allocate HUF 1,800 bln for construction investments - extended

  Hungary’s government will allocate HUF 1,800 billion (€6.24 billion), most of which will be derived from EU funding, for construction investments over the next year and a half, National Development and Economy Minister Gordon Bajnai said at a press conference on Wednesday.

 

Bajnai said that 267 schools, 24 clinics and more than 400 kilometers of railway and 350 kilometers of public roads would be built and 78 urban districts renovated as part of the investment program.

The national development and economy minister remarked that the construction investments will supplement a HUF 1,400 government package announced last November with the aim of helping enterprises to weather the crisis and to stimulate growth.

The package aims to achieve three goals in the construction industry: to preserve jobs; to provide funding for Hungarian companies; and to boost demand in the sector, Bajnai said.

A total of 636 larger investments will be carried out as part of the package, with EU funds covering an average 85% of the costs and domestic resources covering the rest.

The government will provide the largest amount of support, HUF 1,270 billion, for 134 transportation investments. The government will also allocate HUF 300 billion for environmental-protection investments and HUF 71 billion for urban-rehabilitation investments. (MTI-Econews)