date=9/9/94
type=correspondent report
number=2-164819
title=Budapest stock exchange (l only)
byline=Barry Wood
dateline=Budapest
content=
voiced at:

Intro:  The Budapest stock exchange is the oldest, yet smallest
of the three main stock markets in post-communist Central Europe.
V-o-A's Barry Wood has been at the exchange in downtown Budapest
and filed this report.

Text:  A local broker says to invest in Budapest one must have a
strong stomach, an adventuresome spirit, and plenty of spare
cash.  The Budapest stock exchange occupies part of an old,
distinguished-looking bank building on the city's main square.
Trading began in June, 1990, and currently takes place five days
a week.  The exchange is automated.  Outside the trading floor,
groups of investors scan television monitors for the latest price
changes.  Only 30-stocks are traded and the market capitalization
is less than Warsaw and much less than Prague.

The volatility of the Budapest exchange is illustrated by the
case of IBUSZ, the formerly state-owned travel agency whose
shares were the first to be traded when the exchange opened in
1990.  Opening at 48-dollars, the price of IBUSZ shares more than
doubled in just a few days and continued to go higher.  But, as
competition arrived in the Hungarian travel market, IBUSZ
struggled and its share price steadily declined.

Today, IBUSZ shares are priced at the equivalent of 15-dollars
each.  Investors who bought IBUSZ at the top of the market have
lost 95-percent of their investment.

The Budapest exchange was severely depressed in 1992 and 1993.
But a revival occurred in the last half of 1993 when prices
doubled.  They doubled again in January, this year, before
declining by about 50-percent.  Today the Budapest exchange is
relatively buoyant and registering more gains than either Prague
or Warsaw.

Foreign money is beginning to flow into the Budapest exchange.
Several investment funds have been created to handle the big
institutional accounts from New York and London that are eager to
invest in Central Europe's emerging stock markets. (Signed)

neb/bdw/skh/rae

09-Sep-94 6:49 am edt (1049 utc)
nnnn
source: Voice of America

*****************************************************************

Date=9/9/94
type=correspondent report
number=2-164856
title=Hungary/Germany (l-only)
byline=Stefan Bos
dateline=Budapest
content=
voiced at:

Intro:  The president of Germany and other officials are in
Budapest this weekend celebrating the fifth universary since
Hungary opened its borders to East German refugees. Stefan Bos
reports from Budapest organizers use this occasion to put the
world attention on other refugees staying in Hungary.

 Text:  A catholic priest, Imre Kozma, the main organizer of the
celebrations, says Hungary needs at least five million dollars
for thousands of refugees from the former Yugoslavia. He plans to
discuss the financial aid with German president Roman Herzog.

Father Kozma is well kown to the German leadership.  In 1990 he
received an award for helping 48-thousand East German refugees
make their way to the West.

It was his parish in Budapest that received them on catholic
church grounds and other areas run by the church.  It was also
the location where the Hungarian Maltese Charity Service was
founded, an aid organization lead by father Kozma.

German officials say father Kozma took the first stone out of the
Berlin wall but speaking trough a translator,  he says five years
later many Hungarians feel indifferent about refugees, such as
those from the former Yugoslavia.

                    ///  Kozma act -- translator ///

         Many were accused of giving to much energy for people
         outside our borders. This is a childish accusation. We
         keep on explaining how unjustified this accusation is
         because 80 percent of our activities are take place in
         Hungary. Only 20 percent is going to refugees and
         abroad.

                             /// End act ///

Father Kozma says refugees are used as scapecoats for Hungary's
economic problems.

An estimated four million Hungarians live below the accepted
government living standards.
                       ////  Rest opt ///

Father Kozma says five years ago people saw East German refugees
as a sign of a new era, but he believes they did not want to
think about the price of freedom.

                      ///  Kozma act - translator  ///

         Freedom has a high price. At that time (five years ago)
         only the desire for freedom manifested itself but it was
         natural that the concrete realization of this process
         could not go without difficulties. I think we are in a
         stage now where we have to teach people how to grow up
         and to learn that life and freedon has its price.

                               /// End act ///



 As Hungary calebrates those historic events, Mr. Kozma hopes the
attitude of people towards refugees will change again for the
better. (Signed)

neb/sb/mh/pt
09-Sep-94 3:07 pm edt (1907 utc)
nnnn

source: Voice of America


*****************************************************************
A tovabbterjesztest a New York-i szekhelyu Magyar Emberi Jogok
Alapitvany tamogatja.

           [*]   [*]  [*]   [*]  [*][*]    [*][*][*]
           [*]   [*]  [*]   [*]  [*]  [*]  [*]
           [*][*][*]  [*][*][*]  [*][*]    [*][*] 
           [*]   [*]  [*]   [*]  [*]  [*]  [*]    
           [*]   [*]  [*]   [*]  [*]   [*] [*]

Reposting is supported by Hungarian Human Rights Foundation News
and Information Service.
*****************************************************************