July 29th, 2008
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Ministry claims profit on failed government quarter mega-project

The now-abandoned government quarter project will pay for itself because the value of the real estate purchased has appreciated, according to a Finance Ministry study prepared for the cabinet.

The total cost of the project was Ft 9.447 billion and the value of the real estate acquired is now Ft 9.457 billion, the study said. The market value of the real estate has risen by Ft 1 billion since the purchase, covering all additional costs.

“The cabinet takes ordinary people for fools,” Fidesz deputy spokesman András Cser-Palkovics said in response. This case clearly proves that a parliamentary investigative commission needs to be established where no-one can avoid the obligation to give a realistic account, he added.

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