Shocking: thousands of billions of forints loss in public assets
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Last year, the Hungarian National Asset Management (MNV) Zrt. accumulated a loss of HUF 486 billion. In the last three years, public asset management has shown a total loss of more than a thousand billion forints (more than EUR 2.5 billion).
Huge losses in public assets
The record deficit is mainly due to the free transfer of public assets to various foundations. The balance sheet of state asset management last year showed an unprecedented deficit of HUF 486 billion (EUR 1.22 billion), reports Népszava, referring to the recently published balance sheet report of MNV Zrt. The significant shortfall was mainly caused by free asset transfers, writes napi.hu.
Over the past three years (2019-2021), MNV’s asset management activities have generated a total of HUF 1,060 billion (EUR 2.67 billion) in losses and asset losses. Before 2019, the result of public asset management was still in profit overall.
Asset management result at MNV:
| Year | Results (bn HUF) |
| 2018 | 95.4 |
| 2019 | -304.6 |
| 2020 | -269,6 |
| 2021 | -489.3 |
Free asset transfers have boomed in recent years, which is one of the reasons for the huge losses. The government has handed over the most valuable assets of the Hungarian state, which can be sold and moved at any time, to a new kind of “public interest trusts”, the Népszava article notes. What is notable is that the board of trustees of these foundations includes a large number of Fidesz politicians.
Thieves pure and simple – should all be prosecuted.