Surprisingly 46% Tax Included in Regular Petrol Price in Hungary is Actually Lower Than in Many EU Countries

  • 23 Apr 2024 2:20 PM
  • Hungary Matters
Surprisingly 46% Tax Included in Regular Petrol Price in Hungary is Actually Lower Than in Many EU Countries
Hungary’s taxes are not to blame for high fuel prices, the finance minister said on Monday, adding that taxes on fuels were among the lowest in the European Union.

Mihály Varga said on Facebook that the price of regular petrol contained 46% tax in Hungary, while in Austria that ratio was 52%, in Germany 55%, and in Slovakia and Czechia 49%.

Citing figures from the European Commission, Varga said the highest taxes on fuels were levied in Finland, Greece, Ireland, Malta and Italy, with a uniform 56%.

Meanwhile, Budget Posts HUF 2,321 Billion Deficit in March, Ministry Confirms

Hungary’s cash flow-based budget, excluding local councils, posted a deficit of 2,321.4 billion forints (EUR 5.882bn) at the end of March, the finance ministry confirmed in a detailed release of data. 

The central budget had a deficit of 2,338.3 billion forints and the social security funds were 61.7 billion forints in the red but separate state funds were 78.6 billion forints in the black.

Interest expenditures, which included large payments on retail government securities, came to 1,241.3 billion forints in January-March, up 604.0 billion from the same period a year earlier, the ministry said.

Spending on pensions reached 1,895.7 billion forints, while health-care expenditures came to 588.9 billion forints.

Spending on maintaining the regulated utilities price system for households reached 461.3 billion forints, the ministry said.

It underlined the government’s commitment to reducing the deficit and the public debt, noting that the deficit will be cut to below 3% of GDP over the coming years.

The government targets a deficit of 4.5% in 2024, 3.7% in 2025 and 2.9% in 2026, the ministry said.


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