All revenue from fines to be paid into central budge from 2012

Hungarian state institutions with the power to levy fines will have to pay all revenue from the penalties into the central budget from 2012, a draft document for the 2011 budget shows, daily Nepszabadsag said on Monday.

The centralization of revenue from fines started in 2009 and will be completed in 2012, the paper said

The National Economy Ministry told the paper that institutions to be affected by the centralization from next year projected HUF 5.8 billion in revenue from fines this year.

Among the state institutions that can levy fines are financial market regulator PSZAF and the Hungarian Competition Office (GVH).

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