Gyurcsány told Reuters ahead of a keynote speech in parliament, that extra revenues this year would be used to reduce the deficit further and the tax cuts planned for 2009 would not pose a threat to the 2009 target of 3.2%. This year’s deficit target is 4% of GDP, down from a deficit of around 5.7% last year. He added that, the government was planning to sell shares in remaining state-owned companies to the public. Gyurcsány said the state would keep a majority stake in these companies, especially in firms that are strategically important.
Hungary’s government plans to reduce taxes and social contributions on labor in order to boost employment, Gyurcsány said in a speech in parliament on Monday. “Our primary goal is to cut the (tax) burden in order to create jobs,” Gyurcsány told parliament. “Our calculations show that without jeopardizing our budget goals next year the tax burden can be definitely reduced by about Ft 200 billion ($1.11 billion),” he added. In his speech Gyurcsány said the government would start a new phase in its policy after painful fiscal cuts and structural reforms. “Jobs, knowledge and ownership. These create security so that’s what our policy should be about,” he said. (Reuters)
Producing journalism that is worthy of the name is a costly business. For over 30 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.
