Hungary Finance Ministry alters spending
Hungary will not be able to meet some of its spending targets this year, Tamás Katona, administrative secretary of state at the Finance Ministry told a press conference on Tuesday. The ministry has made corrections in its projections for drug spending and pension payments, he added. The estimate for interest expenditures was also lifted to HUF 902 billion from HUF 822.4 billion.
Detailed revenue and spending targets revealed today already include the planned impact of measures (tax hikes) in the austerity package that was announced by PM Ferenc Gyurcsány on 10 June, Katona confirmed. Accordingly, this year's VAT revenue plan was raised to HUF 1,185 billion from HUF 1,791 billion, the target for business tax revenues (including the “solidarity tax") was lifted to HUF 454.3 billion from HUF 392.4 billion, while the ministry reduced its corporate tax revenue from HUF 455 billion estimate to HUF 445 billion.
ADVERTISEMENT
KSH Dismisses Reports of Eurostat 'Investigation'
Hungarian-American Business Chamber Established in Chicago
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.
