Orbán touts economic performance, mum on VAT-gate

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A total of 235,000 more people are employed in Hungary than at the time of Fidesz’s election victory in 2010, while wages have risen, partially as a result of tax cuts, utility fees have declined and the inflation rate has dropped to its lowest in 40 years over that period, Prime Minister Viktor Orbán said on state-run Kossuth Rádió this morning. 

Orbán said that the interest-rate cuts and the Funding for Growth program that the National Bank of Hungary (MNB) have implemented since György Matolcsy’s appointment as governor of the bank in March have made credit available to SMEs. He said the policy of the central bank changed since the appointment, and central bank and government policies are now in harmony. 

The prime minster said that the government would act to counter the potential attempt of banks to impose fees in order to offset the regulation set to come into effect in February stipulating that account holders may make two free cash withdrawals per month.

Orbán said that the government was waiting for more concrete information to emerge regarding allegations of VAT evasion among large companies operating in Hungary on a massive scale by former National Tax and Customs Office (NAV) official András Horváth.

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