Freezing of HUF 577bn in residuals to require no change to 2011 budget
A government decree freezing HUF 577bn in residuals at central budget-funded institutions a well as the health and social insurance funds will not require any amendment of this year's budget, National Economy Ministry department head Tibor Haag told a meeting of Parliament's Audit and Budget Committee on Monday.
Ministries can find the resources to ensure their operation in spite of the freezing of the residuals, which really just moves their payout to next year, Haag said.
The decree freezing most of the HUF 628bn in residuals brought over from last year also freezes another HUF 37.5bn in spending for this year at central budget-funded institutions.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.