Candidate for the new post of Minister without Portfolio for the Development of Public Assets Andrea Bártfai-Mager listed continuing the asset policy began in 2010, increasing pubic assets and their rational management as the most important goals during her hearing before Parliament’s Economic Committee prior to her appointment on Monday in Budapest.

When the Government entered office in 2010, it began by stopping the outflow of public assets and continued by regaining strategic elements, Ms. Bártfai-Mager pointed out.

The candidate listed identifying territories within state assets that could become key sectors and to which Ministerial policy interests are linked, and the designation of asset elements which the state has no need of, as some of the most important tasks for the future.

The current economic situation is suited to the development of a long-term asset strategy, the country has overcome the most serious financial and economic crisis of the past 50 years, she said, adding: Hungarian economic policy is moving in the right direction and prospects are also favourable at global level.

Ms. Bártfai-Mager said she believes active ownership participation is necessary in fields where there is a fundamental demand for reorganisation, for instance with regard to uniform public utilities, adding that state participation in growing sectors of industry must also be reinforced.

The value of state assets is some 16 trillion forints (EUR 50.5bn), 8.6 trillion of which is being managed by the Hungarian National Asset Management Company, she pointed out, referring to the expected significance of the areas that will be falling under her supervision.

The current Government Commissioner, who has been in charge of the Post Office and National Financial Services since 2016, moved on to speak about the most important current issues relating to the four main areas which will be under the new Minister’s supervision.

With relation to the Post Office, Ms. Bártfai-Mager said the goal was to assure market profitability through introducing a long-term strategy.

On the subject of the Hungarian Development Bank, the candidate recalled that 700 billion forints of financing demand has been identified that the commercial banks are unable to cover for whatever reason.

Concerning the Takarék savings bank group, the prospective new Minister without Portfolio said that following its consolidation, the goal continues to be to ensure that the group remains the bank of choice in rural areas.

With relation to public utilities, Ms. Bártfai-Mager highlighted, amongst others, the fact that utility service providers are reinvesting profits in the interests of modernisation.