Hungarian Prime Minister Péter Magyar has announced the creation of a National Asset Recovery and Protection Authority, initiating a political campaign dubbed 'Purifying Fire.' The new body is tasked with uncovering the fate of public assets and investigating cases of alleged illegal appropriation.
The announcement, made in parliament, marks a significant escalation in the government's approach to state-owned enterprises and public funds.
The authority will have the mandate to trace assets and pursue legal action against those accused of misappropriation.
This development follows earlier reports that the government was preparing legislation to establish the authority.
The move is expected to intensify scrutiny on companies with state ties and could lead to increased regulatory uncertainty for businesses operating in Hungary.
Investors will be watching for details on the authority's powers and the scope of its investigations.