European Commission welcomes decision on financial transactions duty


European Commission spokesman Olivier Bailly welcomed national economy minister György Matolcsy's announcement on Friday that the financial transactions duty will not be extended over the National Bank of Hungary (MNB).

"We certainly welcome the announcement of economic minister Matolcsy about the intention not to impose the tax on the central bank, and we hope that it will be translated, without delay, into a proposal to change the corresponding law that will be adopted in the next days."

As regards the new package of measures to improve Hungary's fiscal balance, Bailly said they will thoroughly analyze all the elements of the program and will provide an assessment on November 7 when publishing the economic forecast for the entire European Union.

Speaking about the talks on IMF/EU about financial assistance asked by Hungary, Bailly said that, after the International Monetary Union (IMF), European Commissioner for Economic and Monetary Affairs Olli Rehn also sent a letter to Hungary on Thursday afternoon.

The Hungarian government has received both letters, now "it is for them to come back to us so that we can continue the ongoing process", Bailly said.

The spokesman said that at this stage he was unable to give a date for when the talks can continue in Budapest.


Hungary Trade Surplus at EUR 1 bln in October Trade

Hungary Trade Surplus at EUR 1 bln in October

Orbán Participates at Milei Inauguration in Buenos Aires Int’l Relations

Orbán Participates at Milei Inauguration in Buenos Aires

EV Demand Constantly Growing Automotive

EV Demand Constantly Growing

Budapest Strings Celebrating Founder With Birthday Concert Music

Budapest Strings Celebrating Founder With Birthday Concert


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.