Official: Gov't to revisit spending freeze in December
The Hungarian government is expected to make decision in December on whether to free up or cancel HUF 110 bln in frozen budget expenditures, state secretary Péter Benő Banai reported during an online press conference yesterday.
During the conference, Banai said that the government is expected to make the final decision based on macroeconomic and fiscal data.
Varga announced the freeze last Thursday, saying that stopping spending is the only way to reach this year’s target deficit of 2.9% of GDP. Varga’s contention was qualified by Prime Minister Viktor Orbán in his regular radio interview last week, when he maintained that the freeze was simply a “precautionary measure”, and that the target would be achievable without the spending freeze.
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