Asserting that the budget will be one of growth, as it is based on two and half years' of successful fiscal consolidation, he said the government will earmark Ft 2 trillion for the New Szechenyi Plan in 2013, a substantial rise from the Ft 1.4-1.6 trillion this year.

The cabinet submitted the draft budget to Parliament much earlier than usual this year because Hungary had to show the European Commission and EU finance ministers that it has completed its fiscal consolidation successfully, Matolcsy argued.

The budget will help to create jobs and preserve the more than 3.8 million jobs in Hungary, he said, adding that there will be 200,000 more jobs at the end of 2013 than when the government took office.

This budget will help Hungary to achieve economic growth of 2% or more, he said.

Although the draft sets a deficit target of 2.2% of GDP, the budget will show a 2% surplus, excluding debt service costs, he told MPs.

Source: Hungary Around the Clock

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