Opposition's Budget Proposal Slammed by Finance Minister

  • 8 Jun 2021 9:41 AM
  • Hungary Matters
Opposition's Budget Proposal Slammed by Finance Minister
Opposition parties have submitted a total of 1,148 amendments to next year's budget bill which would "upset balance" in the draft by 8,800 billion forints (EUR 25.4bn) in extra spending, Finance Minister Mihály Varga said on Monday.

A final vote on Hungary’s 2022 budget is scheduled in parliament on Tuesday.
Amendment proposals submitted by Jobbik would alone spend three times the amount earmarked in emergency reserve, Varga said in a video message posted on Facebook.

The LMP party’s proposals include increasing taxes as well as introducing new taxes for businesses. The new taxes, such as a CO2 emission tax and a proposed tax on air tickets would result in extra burdens of 200 billion forints and 10 billion forints, respectively, Varga said.

The Párbeszéd party has again submitted a proposal “in another attempt” to introduce a basic income which would cost an extra 1,400 billion forints for the state, the finance minister said.

Varga noted a proposal which he said falsely claims that the budget does not have any funding earmarked for drug prevention.

“The funding has been included under the chapter allocating 7 billion forints for providing and improving health-care services,” he said.

The minister said the opposition’s amendment proposals, if accepted, would result in tax hikes and an accumulation of debt.


MTI photo: Zoltán Máthé

  • 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.

Explore More Reports

  • Finance Minister Puts 2022 GDP Growth at 5.5-6%

    Finance Minister Puts 2022 GDP Growth at 5.5-6%

    • 11 Oct 2021 6:23 AM

    Finance Minister Mihály Varga said next year’s GDP growth could reach 5.5-6% at a business forum organised by the American Chamber of Commerce (AmCham) on Friday.

  • Hungary Issues USD 4.25 Billion of Dollar Bonds

    Hungary Issues USD 4.25 Billion of Dollar Bonds

    • 18 Sep 2021 9:12 AM

    Hungary issued 4.25 billion dollars of dollar bonds in a transaction that was four times oversubscribed, under favourable conditions, at a low interest rate and 10- and 30-year maturities, Finance Minister Mihály Varga said in a video on Facebook.

  • GDP Up 17.9% in Hungary

    GDP Up 17.9% in Hungary

    • 18 Aug 2021 3:03 PM

    Hungary’s second-quarter GDP grew by an annual 17.9% after a double-digit decline in the base period, a first reading of data released by the Central Statistical Office (KSH) on Tuesday shows.