European loan to fund Hungary’s ambitious railway modernisation efforts
The Hungarian government has formally applied for a loan from the European Investment Bank (EIB) to support its railway renovation efforts, Minister of Construction and Transport János Lázár announced via Facebook. The requested funds will cover half of the HUF 800 billion (EUR 2 billion) infrastructure development program, with the government financing the other half. This initiative is part of a broader HUF 1.2 trillion (EUR 3 billion), 10-year plan aimed at comprehensively modernising Hungary’s rail transport system.
Another huge loan to be taken out by the Hungarian government
According to Telex, Lázár explained that in the first phase of the project, 119 kilometres of railway tracks would be cleared of speed restrictions, while another 490 kilometres would be upgraded with cutting-edge central traffic control systems. He emphasised that these improvements will enhance the safety and reliability of rail travel across the country, reducing both travel times and delays.
Recent railway accidents have added urgency to these developments. One notable incident involved the derailment of the Claudiopolis InterCity near Keleti Station in Budapest, which disrupted services for days. Though no one was injured, the derailment highlighted the pressing need for infrastructure improvements. According to initial investigations by the Ministry’s Transportation Safety Organisation, broken bolts caused the accident.
Hungarian railways in critical condition
These events have sparked renewed public debate over the condition of Hungary’s railways. Lázár acknowledged that rail transport has long been a problematic area, but the government has a concrete plan to address the issues. In August, the minister unveiled a five-point action plan that includes securing a EUR 1 billion loan for railway construction, purchasing decommissioned Western trains, overhauling several stations, and replacing MÁV’s leadership.
Lázár also commented on the financial challenges posed by the EU’s withholding of funds earmarked for Hungary. “The delay in EU payments has hit the railway sector particularly hard,” he noted. “Until the EU fulfils its obligations, we must secure alternative funding sources. National funds are already in place, and once the EIB approves the loan, we will begin work immediately.”
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Debt SERVICING – the ability to pay back borrowed or funding LOAN’s – is not Hungary the PRIME example just not in the European Union “other” 26 member countries, but in the “broader” picture of things as we see happening globally to-day.
Hungary to go as a country into FURTHER massive Debt, it’s Government Debt on borrowed funding from China and Russia, it’s DEBT to the European Union, the “compounding” interest daily level of interest charges on the Hungarian Debt to the European Union, the interest rates on borrowings from China and Russia – would add to it’s already PERILOUS place as a country – it has been taken to DELIVERED to by the Victor Mihaly. Orban – Fidesz Government of Hungary.
DEBT serviceability – that it MUST be REMEMBERED – that the Debt(s) of a Government – factually are DEBTS of every tax paying HUNGARIAN.
Hungarian taxes – citizens taxes – pay for the DEBTS in BORROWINGS by a GOVERNMENT.
Orban – the Fidesz Government of Hungary – factually ALREADY in a place that THEY have not SUFFICENT income or revenue – to SERVICE the DEBTS of Hungary that exist – at this point in time.
Hungary – if the European Union was to APPROVE the subject of this article, the STERN questions asked of Hungary – would RESULT in a NO to there application, through present Government Debt, and Debt to the European Union, and an Economy that nears, trending rapidly to-wards being a Government representative – being INSOLVENT.
Economically and Financially – the near, to short, medium to long and into the FUTURE economic outlook for Hungarian is GLOOM and Disaster.
Hungary – it’s MOUNTING daily DEBT – not SERVICEABLE and any FURTHER “screws” – and THEY will – the Orban – Fidesz Government place on the TAX Payers of Hungary, will just add to the on-going TREND’s in Hungary, the lessening of life QUALITIES and Standards, and the figure of 3.1 million Hungarians presently living in POVERTY – will continue to CLIMB and CLIMB.
PRIORITIZATION of Orban and his Fidesz Government – MINDBOGGLING.
Investment(s) – for the FUTURE into Education, Hospitals, Public Services – the day to day needs of HUNGARIANS – just a “small” base of points that demonstrate FACTUALLY – the humongous / gargantuan FAILINGS of the Orban – Fidesz Government in it’s PRIORITIZATION(s) – for Hungary now and into the FUTURE.
It ALL will WORSEN and HOPEFULLY the European Union – say NO to the subject of this article.
Maybe, in one form or another Hungary – the Orban – Fidesz Government are TOLD – there priority should be on the lives, the daily lives of ALL Hungarians, to insure they have some quality and not be RATED in overall standards at number 26 in QUALITY & STANDARDS of there lives as a country in the European Union, the 27 European Union countries – by a GOVERNMENT that are just DEBT Riddled growing – and that WISH to GO further into DEBT – further debt for the citizens – 9.6 million Hungarians – for ALL the WRONG and again IRRESPONSIBLE reason(s) – to BORROW increase the Debt of Hungary.
Heinous.
In the last 10 years the rails in Hungary have done down down down while public money was spent on vanity projects like stadiums and sending our tax dollars out to “ethnic” Hungarians to vote but do not suffer our problems here. So, the big bad Brussels people are willing to rescue our rails. Think about this my fellow countrymen, before you cast another vote.
The king of capitalization is, for once, right. Spending more than you have is a terrible idea, for a nation as much as for an individual. Too bad his ideological fury blinds him for where to truly lay the blame.
This has nothing to do with Orban and Fidesz. Leftists are even more profligate with nonexistent money and financial recklessness.
The problem is the fiat currency (as opposed to the gold standard). Those who are interested can look it up and figure out why for themselves.
Steiner Michael, your Political Party, the Party of your Membership, under your Demigod – the “infamous” – Victor Mihaly. Orban, factually that is growing in KNOWLEDGE, the Orban – Fidesz Government, the Oligarchi, the “Diseased” DNA of the Fidesz Political Party, through there Heinous act’s, have just bleed dry, exploited for there own personal need’s – from Hungarians – ALL that they can.
Hungary – has been BASTARDIZED – by the name Fidesz and all who are of there Membership and support the Fidesz “brand” name.
Repulsive.
Steiner, how can anyone lay blame at the door of the ‘left’ for something like this when they’ve been out of power for nearly 15 years in Hungary? Railways are complex beasts and like any intricate machine they require constant maintenance and periodic overhaul. These are precisely the tasks that haven’t been taking place in anything like the volumes they should have been. The result? A railway infrastructure that is on its last legs; even where tracks would support higher line speeds Hungary doesn’t have the rolling stock to run over them and maintenance is so lacking it isn’t long before the speed limit signs are positioned trackside.