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Ministry publishes 2016 budget plan

History

The economy ministry said on Friday that it had published on its website the document which will be used to plan the 2016 budget, according to Hungarian news agency MTI. 

The economy ministry confirmed earlier in the week the announcement made by Prime Minister Viktor Orbán earlier that next yearʼs budget bill will be submitted to Parliament by the end of April, well before the mid-October deadline, and MPs will be able to vote on the bill by the end of the spring session, scheduled for mid-June.

The document outlines the following details: the reduction of state debt will remain a priority, the budget will be designed to raise employment and economic stability as well as keep the general government deficit under 3% of GDP. The ministry said that the government will submit its convergence plan to the European Commission in April, a plan which is happening simultaneous with development of the budget.

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