Hungary needs to upgrade motorway-financing plan


The new plan is needed due to the announcement made by Finance Minister János Veres on Tuesday, saying that Hungary's state budget should include motorway cost items. (that will increase the deficit target for 2006 by 0.6 percentage points of the GDP). Due to this change, it the original plan is less likely that to be pursued, which should sign a 75-year service contract with State Motorway Management Zrt (ÁAK), and should finance necessary developments from issuing bonds says the government. Felsmann noted that the new situation would not affect planned motorway developments, for the loans ÁAK has taken out are enough to finance motorway developments until the end of September. The government is discussing a plan proposed by Economy and Transport Minister János Kóka in May, which says that 20%-40% of ÁAK should be privatized on the Budapest Stock Exchange (BÉT). Felsmann stressed that government-backed loans may be a good option in the current situation, and it is also possible that the government increases the capital of ÁAK. (Portfolio)


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

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


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.