Deputy Prime Minister promises renationalization of public utility companies

Parliament

Public utility companies should all be renationalized, Hungarian Deputy Prime Minister Zsolt Semjén said yesterday at an electoral event in Csákvár, a town 57 km west of Budapest. Local elections are due in Hungary on October 12.

Foreign companies should no longer have a word in deciding “whether there will be heating in the winter or not” declared Semjén, who also heads the Christian Democratic People’s Party (KDNP), an ally of the ruling Fidesz party,

Last Wednesday chair of  Fidesz’s parliamentary group Antal Rogán said that the cabinet was planning to set up two non-profit public companies. One would be an energy provider, the other a water and waste management services supplier.  

Fully nationalizing the energy sector was the “only way” to guarantee the supply security of Hungarians, Semjén stressed. Thanks to the “radical cut” in energy prices, Hungarians have been able to “keep some money in the pockets”, thus stimulating domestic consumption, the Deputy Prime Minister added.

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Higher taxes 'toxic' for Hungarian economy - Orbán Government

Higher taxes 'toxic' for Hungarian economy - Orbán

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.