Hungary’s government wants to give the Hungarian State Treasury (MÁK) the power to collect deposits to better manage short-term liquidity, daily Magyar Nemzet said, citing government sources. Prime Minister Viktor Orbán mandated the national economy ministry in a decree published on Monday to draw up legislation that will allow MAK to collect deposits. Magyar Nemzet said the move could help smooth out regular swings in liquidity on KESZ, the state’s unified account, between the time public sector wages and other payments are made, around the beginning of the month, and the arrival of VAT payments, in the middle of the month.
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