Government could reshuffle budget without Parliament
Legislation passed by the Hungarian Parliament today will allow the government to make decisions through government decrees on funding for various tasks, even if the necessary budget appropriation can only be ensured at a later date, Hungarian news agency MTI reported.
Before the legislation was approved, reshuffling budget appropriations, either among existing tasks or towards new goals required, except in special cases, parliamentary approval, MTI added.
Funding for such measures would only be allowed through reallocation and could not raise the deficit, while, additionally, the rule which allows the use of no more than 40% of the annual budget reserves for “extraordinary government measures” in the first half of the fiscal year will remain in force, MTI added.
Hungary’s Cabinet Chief János Lázár submitted the bill to Parliament in late February, and Hungary’s National Economy Minister was added as the other representative of the government during the parliamentary debate of the bill on March 9, according to MTI.
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.