Household consumption is expected to grow by 1.9% and real wages by 2% next year. The public debt is planned to fall from 77.4% of GDP expected at the end of 2013 to 76.9% by the end of 2014, based on a forinteuro rate of 296.9.

The main opposition Socialists said the 2014 budget was approved without taking into consideration an amendment passed earlier on cutting the tax on severance payments above 2 million forints from 98 to 75%. Socialist deputy group leader István Józsa insisted this change would “obviously affect” budget revenues next year.

The 2014 budget will not last more than three months , he added. Radical nationalist party Jobbik said the 2014 budget showed that the government was merely continuing austerity started by its predecessors led by Ferenc Gyurcsány and Gordon Bajnai.

Gordon Bajnai, leader of the electoral alliance E14-PM claimed the budget deficit was likely to be around 3.5% of GDP and that the growth projection on which it is built was too optimistic.

Source www.hungarymatters.hu

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