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High inflation and the weaker forint have annulled the wage hike made at the beginning of the year, so the gross minimum wage should be increased to Ft 200,000 per month from January 1, 2022, president László Kordás of union alliance Maszsz told Népszava on Monday.
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Hungary refuses to give up its financial sovereignty by introducing a global minimum corporate tax rate, finance ministry state secretary András Tállai told publisher Mediaworks, arguing that such a tax would hurt businesses, consumers and the economy as a whole.
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S+P Global Ratings affirmed Hungary’s ‘BBB’ sovereign rating with a stable outlook at a scheduled review. S+P’s analysts projected Hungary’s economy would grow 6.1% this year and 5.3% in 2022, acknowledging the country’s effective vaccination rollout and fiscal stimulus.
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The head of the State Audit Office, in an article published by the daily Magyar Nemzet, said ideally personal income tax should be scrapped altogether, arguing that it was a burden on work and generally perceived as a "punishment".
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Hungarian inflation was an annual 4.6% in July, after 5.3% in June, the Central Statistical Office (KSH) said on Tuesday.
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Hungary’s cash flow-based budget deficit, excluding local councils, reached 1,803.7 billion forints (EUR 5.09bn) at the end of July, widening on stimulus measures, the Finance Ministry said in a preliminary release of data on Monday.
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