New Govt Aims To Reduce Taxes Further

  • 16 May 2018 9:09 AM
  • Hungary Matters
New Govt Aims To Reduce Taxes Further
Hungary’s new government will aim to reduce taxes further for private individuals as well as businesses, Mihály Varga, the finance minister-elect, said at a hearing before a parliamentary committee.

The new government’s economic policy goals will remain unchanged, and the foundation for these is establishing a labour-based society, Varga told the budget committee. The cabinet wants to achieve full employment, he added.

The government targets annual GDP growth of around 4% until 2022, he said. It also wants to balance the budget and continue to reduce state debt relative to GDP, he added.

The candidate was endorsed by ten committee members. Two members voted against and two abstained.


Related links

Hungary’s GDP Up 4.4%

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • Hungary Opposes Separate Euro Zone Budget

    Hungary Opposes Separate Euro Zone Budget

    • 5 Dec 2018 7:34 AM

    Hungary does not support the proposal to create a separate euro zone budget, as such a concept would be against the country’s interests, Finance Minister Mihály Varga was quoted as saying at a meeting of EU finance ministers in Brussels.

  • Hungary’s Q3 GDP Grows 4.8%

    Hungary’s Q3 GDP Grows 4.8%

    • 15 Nov 2018 7:38 AM

    Hungary’s third-quarter GDP grew by an annual 4.8%, the Central Statistical Office (KSH) said in a first reading of the data.

  • VAT Cut In Hungary Bad For Revenues

    VAT Cut In Hungary Bad For Revenues

    • 13 Oct 2018 8:35 AM

    Reducing Hungary’s main VAT rate by two percentage points to 25% would result in “many hundreds of billions of forints” of lost budget revenue, András Tállai, the deputy finance minister, said in an interview published in Friday’s issue of the daily Magyar Idők.