ADVERTISEMENT

Supreme Court: MNB must release data on foundation

Issues

Hungary’s Supreme Court ruled today that the National Bank of Hungary (MNB) must release data on all tenders managed by the Pallas Athene Domus Animae Foundation (PADA) up to the date of the data request by journalist Károly Csabai, according to Hungarian news agency MTI.

The decision reached by the Supreme Court upheld the appellate court’s verdict, and cannot be appealed further. 

According to the Supreme Court, every organization that manages public funds must be accountable to the public in connection with these funds, and public money and property must be handled in a transparent way, MTI reported, adding that data relating to public funds and national assets are considered data of public interest.

Under the Curia’s decision, PADA performs public services with public funds, therefore public funds do not lose their public status once transferred to a foundation.

The decision by the Curia comes after the Hungarian government drafted and Parliament approved legislation that would render the spending of MNB foundations classified, along with a postal bill that would affect the scope of public disclosure at state-owned Magyar Posta.

President János Áder did not sign the two bills, and instead returned them to the Constitutional Court, which is expected to make a decision on these tomorrow.

ADVERTISEMENT

Average age of coronavirus patients declining Analysis

Average age of coronavirus patients declining

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

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.