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HATC SAMPLE EDITION:
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24th July, 2025
Matolcsy’s son disqualified from public tender
The Public Procurement Directorate (KEF) has disqualified Balaton Bútor, a company owned by the son of former central bank governor György Matolcsy, for submitting an unusually low-price offer in a major tender estimated at Ft 50 billion.
The KEF launched the four-year tender late last year, seeking suppliers for a range of executive and standard office furniture, including desks, cabinets, chairs, and accessories.
A total of 10 bids were submitted by 17 companies, with some forming consortia.
Five companies were disqualified, among them Balaton Bútor, for failing to demonstrate that it could fulfil the contract at the price submitted in the bid.
The company had previously been barred from a Ft 5 billion public tender in 2023 for submitting an incomplete bid.
The latest setback comes amid financial pressure for the firm. Despite a revenue increase from Ft 2.7 billion in 2023 to Ft 3.8 billion last year, the company’s net profit fell from Ft 20 million to just Ft 5.4 million in the same period, due to rising costs.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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