Government plans to lower amount of cash held by Hungarians
The amount of cash held by Hungarians has doubled in the past five years, and as a result, the Hungarian government is attempting in its 2017 budget to lower what it considers an obstacle to the whitening of the economy, Hungary’s National Economy Minister Mihály Varga said today, according to reports.
According to the minister, Hungarians prefer cash over bank cards for a number of reasons, including the high transaction fees, the limited availability of bank card payment systems, the high cost of maintaining such systems and the limited number of free cash withdrawals, Hungarian online daily origo.hu reported.
Varga stressed that in a country where the amount of cash is high there is an increase of black economy activity, which the government hopes to reduce by reducing the amount of cash held by Hungarians through incentives or measures to be propose in next year’s budget.
Richter Shareholders Approve HUF 423/Share Dividend
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
