Parliament committee approves 2007 budget bill

In Hungary

Parliament's economic committee approved on Wednesday the 2007 budget bill as well as the bill on amending the 2006 budget, but experts expressed concern that cutback targets would not be met, Econews reported.

The submission of the budget bill was approved with 15 supporting votes by coalition MPs and 12 votes against by opposition MPs. The 2007 budget bill focuses on improving the balance of public finances and fulfilling the obligations undertaken in the convergence program submitted to the European Union, Finance Ministry department head Gyula Engyel said. The bill includes consolidated gross revenues of Ft 14,406 billion and expenditure of Ft 16,159 billion, he added.
State Audit Office (ÁSz) Chairman Árpád Kovács said the 2007 budget bill contained correct headline figures but failed to provide detailed figures showing which reforms would produce what kind of savings. He said public sector administration had not been cut back and therefore its expenses had not fallen. In addition, he said there were significant risks included in the bill. The credit line of large state-owned companies should be restricted because it may increase the budget deficit by several percentage points.
Deputy chairman of the economic committee delegated by the main opposition Fidesz party János Fónagy said the 2007 budget bill said the bill had been prepared hastily and its attempts to consolidate public finances had not been properly thought out.

Paks II Work 'Rumbling Ahead,' Says Szijjártó Power

Paks II Work 'Rumbling Ahead,' Says Szijjártó

Hungary to Host Next EPC Summit Int’l Relations

Hungary to Host Next EPC Summit

New Tenants at Academia Offices Office Market

New Tenants at Academia Offices

Visitor Numbers, Guest Nights Climb in H1 Tourism

Visitor Numbers, Guest Nights Climb in H1


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.