HVG: Significant Taxpayer Risk that Orbán and His Family Helped the Rahimkulovs in the Flame Quarter
4 Articles
4 Articles
The previous government left behind a financial burden of several hundred billion forints and significant risks with the real estate investment in the Láng Quarter on Váci Street in Pest. The state-owned Hungarian Development Bank (MFB) helped finance the project of Russian-born billionaire Ruszlan Rahimkulov and Péter Zentai with a bond purchase worth 70 billion forints and a huge guarantee, while under another agreement, the Hungarian state wo…
HVG: Significant Taxpayer Risk that Orbán and His Family Helped the Rahimkulovs in the Flame Quarter
There are good and bad scenarios, a lot depends on what happens with Bayer Construct.
The new government inherited a heavy financial burden of several hundred billion forints and serious risks from the previous cabinet through its real estate investment in Budapest's Láng district. The Hungarian state supported the project of Russian-born billionaire Ruslan Rahimkulov and Péter Zentai with a secret bond purchase, a ten-billion-forint bank guarantee, and a free 150-billion-forint headquarters promised to the International Swimming…
The Orbán government's commitment to the implementation of the huge real estate project on Váci Street in Pest could be several hundred billion forints. In addition to other promises, the state bank, MFB, has subscribed to 70 billion forints worth of bonds issued by the investing company.
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