Pushing an idea the press has dubbed a “Google tax”, Prime Minister Viktor Orbán today told the ITU Telecom World conference that foreign companies profiting from Hungary’s digital economy should contribute to the country. The conference, which opened in Budapest today, is run by a United Nations agency.
After passing laws to pressure private pension holders to merge their savings with the state system, the government spent almost all of those funds – about HUF 3 trillion – to cover state debt, but debt is still at record levels, according to reports. Meanwhile, former private pensioners are apparently still awaiting full acknowledgement of the money they gave up.
The Hungarian government says it is pushing out foreign firms to keep utility bills affordable and ensure a secure energy supply, but critics say their interference does more harm than good.
Hungaryʼs National Economy Minister Mihály Varga was named Finance Minister of the Year in the Central and Eastern European (CEE) region by financial periodical Euromoney at a ceremony on Saturday, according to reports.
Forint liquidity of Hungaryʼs banking sector fell in September from a month earlier, reflected mainly in the lower average stocks of two-week central bank deposits, the National Bank of Hungary (MNB) said in a report today.