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Trade Contracting
March 1, 2010
Hungarians call on government to suspend funding for racetrack build
BUDAPEST, Hungary
Civic groups have asked Hungary’s government to suspend financial support for Balatonring, the country’s MotoGP racetrack under construction.
Transparency International Hungary, the Hungarian Civil Liberties Union and K-Monitor, a group of anti-corruption activists, said the government should make public a feasibility study about Balatonring by global accounting firm KPMG before committing some US$174 million in loans and subsidies to the project.
In a letter to Prime Minister Gordon Bajnai, the three groups said the amount of public funding provided was “out of proportion” with expected revenues, and the risks for the state were too high compared with any prospective earnings. Spanish firm Sedesa is building the racetrack.
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