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Freezing of HUF 577bn in residuals to require no change to 2011 budget

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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.

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