Hungary's government has announced that it will not proceed with the proposed Forints 300bn ($US 1.37bn) debt consolidation of Hungarian State Railways (MAV) to ensure that the government meets its budget deficit target. MAV's operating costs come to Forints 350bn per year, of which about Forints 105bn is covered by its own revenue, but when subsidies are taken into account the company is still Forints 50bn in the red.
展开▼
