Pandemic Causes HuF 184 BN Revenue Shortfall at State-Owned Companies


The pandemic caused a 184 billion forint (EUR 511m) shortfall in revenue at state-owned companies last year, Andrea Mager, the minister in charge of managing state assets, said at an annual hearing before parliament’s economic committee.


Spending on pandemic protection measures added 13.3 billion forints to state-owned companies’ costs last year, while the direct and indirect impact on earnings came to 92.3 billion, she said. At a hearing before parliament’s budget committee, Mager said that the Hungarian Development Bank (MFB) had pumped more than 4,488 billion forints of cheap and flexible financing into the economy, mitigating the fallout from the crisis.


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