• Home
• Channel: Current Affairs
• Lawmakers Approve 2019 Budget

Lawmakers Approve 2019 Budget

• 23 Jul 2018 8:09 AM
• Hungary Matters

Parliament approved on Friday the government’s 2019 budget bill.

The bill was approved with 128 votes in favour and 56 votes against.

The 2019 budget targets revenue of 19,580.4 billion forints (EUR 60.1bn) and expenditures of 20,578.8 billion forints, leaving a deficit of 998.4 billion forints.

It targets economic growth of 4.1% and a budget deficit of 1.8% of GDP based on European Union accounting rules. The public debt-to-GDP ratio is seen dropping to 70.3% from 72.9% next year.

In nominal terms, the budget puts public debt at 31,430.6 billion forints at year-end. Finance Minister Mihály Varga said earlier that next year’s budget would ensure “steady growth”.

The budget allocates 15 billion forints more for education, 101 billion more for health care and 156 billion forints more for defence and public safety measures. It also allocates an extra 40 billion forints for combatting mass migration and counter-terrorism measures.

The budget earmarks 242 billion forints for the government’s family home purchase subsidy scheme CSOK. Tax benefits for families with two children will rise to 40,000 forints.

MTI Photo: Balogh Zoltán

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

• 2019 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:Budapest Mayor Proposes Kiss, Vitezy for Deputy Mayors

• 28 Nov 2024 5:39 AM

Budapest Mayor Gergely Karácsony has proposed councillors Ambrus Kiss and David Vitézy to fill the posts of deputy mayor, according to the agenda of the municipal assembly meeting set for Wednesday.



Láng: Deputy Mayor 'Admits' City Leadership 'Brought Budapest to Bankruptcy'

• 8 Dec 2023 9:48 AM

Ruling Fidesz’s Budapest leader Zsolt Láng has said that the deputy mayor of Budapest had admitted that the city’s leadership had brought Budapest to bankruptcy.



'The People of Budapest Are the Boss', Says Mayor, While Explaining how "Budapest Model” is Working

• 16 Oct 2023 6:54 AM

Community endows Budapest with its strength, not the city’s administration alone, Gergely Karácsony, the city’s mayor, said on Saturday, summing up the municipality’s past years and future plans in a speech.



War Has Led to Divisive Blocs, Says Szijjártó at NATO Meeting

• 6 Apr 2023 9:36 AM

The war in Ukraine has precipitated the emergence of divisive blocs, “which is especially bad news for central Europe, since the region has always lost out whenever there was a conflict between East and West,” Foreign Minister Péter Szijjártó said after a meeting of NATO counterparts in Brussels.