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.

Photo: kormany.hu

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 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.

  • Budapest Is Bankrupt, Finance Minister Announces

    Budapest Is Bankrupt, Finance Minister Announces

    • 19 Jun 2024 11:56 AM

    The municipal court of appeals of Budapest has ruled that the city of Budapest cannot be exempted from certain tax payments, the finance minister said on Facebook on Tuesday, adding that the treasury had already collected 2 billion forints (EUR 5m) in tax arrears from the city’s account.

  • IMF Says Hungary's Economy to Return To Growth This Year

    IMF Says Hungary's Economy to Return To Growth This Year

    • 25 Apr 2024 7:28 AM

    The International Monetary Fund (IMF) forecasts the Hungarian economy returning to growth this year and taking its place in the vanguard of the EU’s growth performers next year, Mihály Varga, the finance minister, said on Tuesday, adding that the IMF prognosis echoes that of the latest European Commission projection.

  • Buying State Bonds Online Recently Became Popular in Hungary

    Buying State Bonds Online Recently Became Popular in Hungary

    • 18 Apr 2024 6:44 AM

    Households making use of the possibility of opening treasury accounts online have invested a total of Ft 60 billion in state bonds since this option became available in December, Finance Minister Mihály Varga announced on Facebook.

Enjoy more