Innovation and Technology Minister László Palkovics on Tuesday attended a ceremony marking the completion of the main structure of a new library and students’ centre for the Budapest Business School complex. In his address, the minister said BBS was “a beneficiary of Hungary’s higher education reform” as one of 21 universities transferred to foundations in the past two years. A new management model for these universities means “not only simpler operations but a different financing model”, he said, adding that funding for BBS had quadrupled under the new system. Thanks to developments in recent years, more and more Hungarian universities have been ranked among the top 1,000 universities of the world, Palkovics said. Spending on higher education in 2022 will amount to 2% of Hungarian GDP. Meanwhile, the amount available for university development projects will total 2,700 billion forints (EUR 7.1bn), the minister said.