Varga: Government to cut bank levy by HUF 20 bln in 2017

In Hungary

The Hungarian government is planning to cut the bank levy by HUF 20 billion in 2017 for the banking sector as a whole, Hungary’s Economy Minister Mihály Varga said today at OTP Bankʼs annual general meeting, Hungarian news agency MTI reported.

Varga added that the government also foresees the closure of the sale of the stateʼs stake in Budapest Bank by the end of this year and the purchase of a 15% stake in Erste Bank by June 30.

The minister said that the government is considering incentives to boost the number of bank card payment systems in Hungary in order to cut the amount of cash in circulation being used for purchases.

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