• Home
• Channel: Current Affairs
• New Govt To Continue Strict Fiscal Policy

New Govt To Continue Strict Fiscal Policy

• 24 May 2018 6:36 AM
• Hungary Matters

Hungary’s finance minister, Mihály Varga (pictured on top left), has said that the government will not veer away from its pursuit of a strict fiscal policy.

Varga said in an interview to public television that the budget before 2010 had destabilised the economy, and efforts since to shrink the public debt and stick to a low budget deficit had led ratings agencies to improve their evaluation of the country’s sovereign debt, while the European Union stopped its excessive debt procedure against Hungary.

“We don’t want to give up any of this in the next few years, since the aim is not to upset a result we’ve achieved ... but to build on it with new economic initiatives,” Varga said.

Hungary wants to preserve the current growth rate of around 4%, he said in a separate interview to public radio, adding that new tax cuts were planned while fresh investments would be coming on tap.

MTI Photo: Kovács Tamás

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Finance Minister Varga Strict Fiscal Policy Hungary Budget

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

Updated: Fraud Suspected Around Chain Bridge Revamp - Will Budapest Mayor Explain "Where Is All That Money?”

• 18 Apr 2024 6:29 AM

A recent report by the Government Control Office (KEHI) raises the suspicion of a “serious misuse” of funds concerning the renovation of Budapest’s Chain Bridge, a municipal project, Balázs Hidvéghi said.



Hungarian Opinion: Government Buys Majority Share in Budapest Airport

• 11 Apr 2024 2:52 PM

A liberal economist accuses the government of setting the wrong priorities and predicts austerity measures for the second half of the year.



Controversial Anti-EU Speech by Orbán Marks Hungary’s March 15 National Holiday

• 18 Mar 2024 5:46 AM

“We cannot accept that Brussels has abandoned Europeans, moreover, turned against them,” Prime Minister Viktor Orbán said in a speech marking Hungary’s March 15 national holiday.



Opposition Parties Received Illegal Campaign Financing, Hungarian Audit Office Finds

• 21 Feb 2024 6:54 AM

The State Audit Office (ÁSZ) has established that parties in the opposition alliance before the 2020 parliamentary elections were involved in illegal campaign financing, ÁSZ head László Windisch said.