ADVERTISEMENT

Varga: Banking tax stays, could be lowered

Conferences

Although Hungary introduced the extraordinary bank levy as a temporary measure for three years in 2010, it became permanent in 2013 and is expected to be maintained, but at a lower rate, Economy Minister Mihály Varga said, according to today's edition of Hungarian business daily Napi Gazdaság.

Ongoing talks are taking place between the ministry and the banking association, Varga said, adding that the current economic growth has been reached at a low level of lending. The minister also told the paper that if ratings agencies assess Hungary's performance in an objective manner, the country would currently deserve an upgrade.

"If we can help (boost lending), the economy could be moved to a higher growth path than what is targeted for this year. As the government and the financial institutions have shared interests, if we can find the point where commercial banks' lending can be encouraged through a correction of the banking tax, I believe that such an agreement can be reached soon," Varga added.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.