Trust Foundations Thrive in Hungary as State Benefits Fall Behind in Profits

Public trust foundations in Hungary are set to benefit the most from the record-breaking profits of the country’s two largest state-owned companies, according to 24.hu. More than HUF 91bn (€242m) in dividends could be paid to the foundations despite the profits of MOL and Richter, with HUF 628bn and HUF 90bn in profits, respectively, with the state and citizens unlikely to receive any share. Foundations including the Mathias Corvinus Collegium and Maecenas Universitatis Corvini Foundation will receive the funds, a situation that has previously been criticised for transferring public assets to private entities.

 

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