543 result(s) for reduction
Századvég Lowers Hungary’s GDP, Inflation Forecast For 2015
- 23 Sep 2015 9:00 AM
- business
Economic research institute Századvég has lowered its GDP growth forecast to 3.1% for 2015 from 3.4% forecast in June. The economy was weaker than expected in the second quarter, the think-tank said, adding that the deterioration in the economic outlook is related to one-off factors which do not affect Hungary’s growth potential. Economic output is expected to grow by 2.5% in 2016 compared with ...
Hungarian Government To Discuss Declaring State Of Emergency
- 12 Sep 2015 6:00 AM
- current affairs
At his press conference on Thursday (“Government Info 22 – Government actions explained”) the Minister of the Prime Minister’s Office János Lázár said that the Government utterly rejects any proposal for the setting up of a refugee camp in Hungary under the supervision and control of the European Commission. The Government is unable to accept edicts, he said.
Lazar: Euratom Clears Paks Upgrade Contracts
- 11 Sep 2015 11:02 AM
- business
The Euratom Supply Agency has reviewed contracts for the Paks nuclear reactor development project and determined they are fully in line with the EU legal framework, government office chief Janos Lazar said on Thursday. Euratom informed the government on September 7 that the contracts for the Paks development comply with all technical, energy policy and environmental protection requirements, Lazar ...
Hungary’s Central Bank Keeps Base Rate On Hold At 1.35%, As Expected
- 26 Aug 2015 9:00 AM
- business
Hungarian rate-setters on Tuesday kept the central bank’s key rate on hold at 1.35%, as expected. The decision was widely expected, after the rate-setters clearly signalled an end to an easing cycle at the previous monthly policy meeting. Central bank governor György Matolcsy said at the time that the earlier series of 15 basis point cuts carried out for five consecutive months would soon come to ...
Economy Minister Hails American Contribution To Hungary’s Economy
- 1 Jul 2015 9:00 AM
- business
Hungary has managed to successfully confront the financial crisis the repercussions of which Greece is suffering from even today, the Hungarian economy minister said at the business forum organized by the American Chamber of Commerce in Hungary. Investment and more efficient use of EU funds are likely to be the main drivers of future economic growth in Hungary, Mihály Varga said.
Lawmakers Pass Hungary’s 2016 Budget
- 24 Jun 2015 9:00 AM
- business
Lawmakers approved Hungary’s 2016 budget in a final vote months ahead of the legal deadline, with 119 votes in favour and 63 against. The Budget Act calculates with a budget deficit of 2% of gross domestic product (GDP) based on EU accounting rules and public debt of 73.3% of GDP. The budget targets total revenue of 15,800 billion forints (EUR 50.7bn), total expenditures of 16,561 billion forints ...
EC Launches Campaign To Increase Consumer Rights Awareness In Hungary
- 22 Jun 2015 9:00 AM
- current affairs
Hungary is one of thirteen countries where the European Commission has launched a campaign to increase awareness of EU consumer rights, the development ministry and the consumer protection authority said. The ministry and the Hungarian Authority for Consumer Protection cited a 2012 Eurobarometer survey which found that Hungarians were generally less aware of their consumer rights than the ...
Hungary’s Ad Tax Exemption Threshold Still Too High For Brussels
- 19 May 2015 9:00 AM
- business
The European Commission believes the proposed 100 million forints (EUR 325,000) exemption threshold for the advertising tax is still too high. The government is in talks with Brussels on the matter, Economy Minister Mihály Varga told commercial television ATV. The government has proposed making the ad tax rate a flat 5.3%, but allowing an exemption on a tax base up to 100 million forints.
Lower Utilities Tax For Network Investments In Hungary Possible
- 13 May 2015 9:00 AM
- tech
A reduction in the utilities tax should be considered if internet service providers build new networks or upgrade their existing ones, state secretary for info-communications, Ákos Kara, said. Hungary is back on the path of economic growth, thus the government will weigh the possibility of reducing some tax burdens next year, Kara said.
Századvég Lowers Hungary’s GDP, Inflation Forecast For 2015
- 23 Sep 2015 9:00 AM
- business
Economic research institute Századvég has lowered its GDP growth forecast to 3.1% for 2015 from 3.4% forecast in June. The economy was weaker than expected in the second quarter, the think-tank said, adding that the deterioration in the economic outlook is related to one-off factors which do not affect Hungary’s growth potential. Economic output is expected to grow by 2.5% in 2016 compared with ...
Hungarian Government To Discuss Declaring State Of Emergency
- 12 Sep 2015 6:00 AM
- current affairs
At his press conference on Thursday (“Government Info 22 – Government actions explained”) the Minister of the Prime Minister’s Office János Lázár said that the Government utterly rejects any proposal for the setting up of a refugee camp in Hungary under the supervision and control of the European Commission. The Government is unable to accept edicts, he said.
Lazar: Euratom Clears Paks Upgrade Contracts
- 11 Sep 2015 11:02 AM
- business
The Euratom Supply Agency has reviewed contracts for the Paks nuclear reactor development project and determined they are fully in line with the EU legal framework, government office chief Janos Lazar said on Thursday. Euratom informed the government on September 7 that the contracts for the Paks development comply with all technical, energy policy and environmental protection requirements, Lazar ...
Hungary’s Central Bank Keeps Base Rate On Hold At 1.35%, As Expected
- 26 Aug 2015 9:00 AM
- business
Hungarian rate-setters on Tuesday kept the central bank’s key rate on hold at 1.35%, as expected. The decision was widely expected, after the rate-setters clearly signalled an end to an easing cycle at the previous monthly policy meeting. Central bank governor György Matolcsy said at the time that the earlier series of 15 basis point cuts carried out for five consecutive months would soon come to ...
Economy Minister Hails American Contribution To Hungary’s Economy
- 1 Jul 2015 9:00 AM
- business
Hungary has managed to successfully confront the financial crisis the repercussions of which Greece is suffering from even today, the Hungarian economy minister said at the business forum organized by the American Chamber of Commerce in Hungary. Investment and more efficient use of EU funds are likely to be the main drivers of future economic growth in Hungary, Mihály Varga said.
Lawmakers Pass Hungary’s 2016 Budget
- 24 Jun 2015 9:00 AM
- business
Lawmakers approved Hungary’s 2016 budget in a final vote months ahead of the legal deadline, with 119 votes in favour and 63 against. The Budget Act calculates with a budget deficit of 2% of gross domestic product (GDP) based on EU accounting rules and public debt of 73.3% of GDP. The budget targets total revenue of 15,800 billion forints (EUR 50.7bn), total expenditures of 16,561 billion forints ...
EC Launches Campaign To Increase Consumer Rights Awareness In Hungary
- 22 Jun 2015 9:00 AM
- current affairs
Hungary is one of thirteen countries where the European Commission has launched a campaign to increase awareness of EU consumer rights, the development ministry and the consumer protection authority said. The ministry and the Hungarian Authority for Consumer Protection cited a 2012 Eurobarometer survey which found that Hungarians were generally less aware of their consumer rights than the ...
Hungary’s Ad Tax Exemption Threshold Still Too High For Brussels
- 19 May 2015 9:00 AM
- business
The European Commission believes the proposed 100 million forints (EUR 325,000) exemption threshold for the advertising tax is still too high. The government is in talks with Brussels on the matter, Economy Minister Mihály Varga told commercial television ATV. The government has proposed making the ad tax rate a flat 5.3%, but allowing an exemption on a tax base up to 100 million forints.
Lower Utilities Tax For Network Investments In Hungary Possible
- 13 May 2015 9:00 AM
- tech
A reduction in the utilities tax should be considered if internet service providers build new networks or upgrade their existing ones, state secretary for info-communications, Ákos Kara, said. Hungary is back on the path of economic growth, thus the government will weigh the possibility of reducing some tax burdens next year, Kara said.