Hungary failing to reach a bailout agreement with the International Monetary Fund would raise the risk of the government extending special industry taxes, said the head of the country’s largest company.
Mol Nyrt., Hungary’s largest refiner, is losing about $60 million a month on Syria after the company’s Croatian unit, INA Industrija Nafte d.d., had to pull out of the country to comply with European Union sanctions, according to Mol Chairman Zsolt Hernadi.
Mol Nyrt., Hungary’s largest refiner, fell to the lowest this year after Hungarian daily Nepszabadsag reported that Croatia had requested the extradition of Mol Chairman Zsolt Hernadi. Croatia’s Prosecutor General denied the report.
Mol Nyrt. Chairman Zsolt Hernadi must be interrogated by either Hungarian or Croatian prosecutors over his alleged role in the corruption trial of former Croatian Premier Ivo Sanader, Croatia’s Prosecutor General said in a statement on its website.
Mol Nyrt., Hungary’s largest refiner, fell after reporting a smaller-than-expected fourth- quarter profit as the recession hit fuel sales, Syrian production ceased and gas trading in Croatia suffered a loss.