The company is investing 2.3 billion forints
(EUR 7 million) of its own resources in the project, 1.4 billion forints
of which it will be financing from a bank loan.
The Q1 balance of the central subsystem of public finances is comprised of the 80.7-billion-forint deficit of the central budget and the 33.1 billion forint
and 8.6 billion-forint surpluses generated by separate state funds and social security funds, respectively.
With relation to the reduction in the rate of social contributions tax, the State Secretary highlighted the fact that the some 450 billion forints
(EUR 1.37 billion) that will remain with enterprises as a result will most probably be spent by businesses on increasing wages and salaries, and possibly on increasing their competitiveness.
was largely unfazed while bonds firmed slightly.
The officials say that the tax will be less than existing fees in the rest of Europe and estimate that it will add some 12 forints
(U.S.$0.05) to the current ticket price of 400 forints
'The Government is providing 171 million forints
(EUR 522,000) in non-returnable funding towards the investment, which will create 100 jobs over a period of three years', Minister of Foreign Affairs and Trade Peter Szijjarto said on Thursday at a press conference in Budapest to announce the investment project.
Szijjrt said the Government is contributing 1.4 billion forints
(EUR 4.3 million) in non-returnable funding towards the investment project, which will create 120 new workplaces.
It posted a net loss of 68.6 billion forints
($254.6 million) for the fourth quarter compared with a net profit of 5.2 billion forints
in the same period of 2013 and a net profit of 28.5 billion forints
in the third quarter of 2014.
Banking association head, Mihaly Patai, however rejected the idea of converting 12 billion to 15 billion Swiss francs into forints
from one day to the other.
Complicating that further is high unemployment, weak bank lending and 5 trillion forints
in mostly Swiss franc denominated foreign currency mortgages which have seen repayments soar due to the franc's strength and forint
Fidesz proposed a 180-forint exchange rate for the conversion of Swiss franc loans and 250 forints
on euro loans.
The EIB intends to further widen this co-operation with the banking sector in Central Europe.EIB targets Hungary for bonds.At the same time, EIB is increasing its domestic Debt Issuance Programme launched in Hungary in 1997 to almost 50 billion Forints
(Euro 200 million).