Govt approves proposal on 2012 draft budget in first reading

History

The government has discussed and approved proposed legislation on the 2012 budget and related proposals in a first reading, Prime Minister spokesman Péter Szijjártó said in a statement sent to MTI on Wednesday.

To avoid the effects of the debt crisis in the eurozone on Hungary, the government is standing by its fiscal deficit target of 2.5% of GDP for 2012, the statement said. Hungary started reducing state debt as a percentage of GDP this year and will take steps in the near future to cut it further, it added.

Hungary will raise its economic growth over the European Union average through economic policy measures, the statement said.

A state assistance program for borrowers with foreign currency-denominated loans will be implemented, it added.

ADVERTISEMENT

EU-funded fact-checking website in Hungary launches Analysis

EU-funded fact-checking website in Hungary launches

General elections to be held on April 3 Elections

General elections to be held on April 3

Microsoft Hungary head Chris Mattheisen discusses the Vatica... Podcasts

Microsoft Hungary head Chris Mattheisen discusses the Vatica...

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

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.