MÁV debt decreases on state takeover

mav_start_Sursa_vecseshirekhu.web.maxer.hu„Despite MÁVʼs credit portfolio amounting to HUF 27 bln (EUR 87 mln) in 2002, by 2010 it had reached HUF 300 bln. Since the Hungarian stateʼs takeover of debts worth HUF 108 bln (EUR 350 mln), the companyʼs debt decreased to HUF 152 bln (EUR 494 mln) at the end of last year, and is expected to fall to HUF 70 bln (EUR 227 mln) by the end of this year”, János Fónagy, Minister of State of the Ministry of National Development said during announcing EU funding awarded for railway developments.

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