Parliament approves 2007 budget act

Deals

Hungary's Parliament approved the 2007 Budget Act in a final vote with a 208 vote and 163 against with no abstentions on Thursday.

The cashflow-based general government deficit, which includes the central budget, as well as healthcare, pension and independent state funds, is targeted at Ft 1,668 billion. The corresponding ESA95 general government deficit is 6.8% of GDP in 2007, in line with the goal set in Hungary's convergence program. The central budget alone is targeted to have a deficit of Ft 1,656 billion deficit next year, based on revenue of Ft 6,669 billion and expenditures of Ft 8.326 billion. Revenue of the state pension and healthcare funds is targeted Ft 4,202 billion and expenditures will be Ft 4,230 billion, resulting in a deficit of Ft 27.5 billion. The healthcare fund alone will have revenue of Ft 1.638 billion and expenditures of Ft 1.665 billion, a deficit of Ft 27.5 billion while the pension fund is projected to break even. (Mti-Eco)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.

Support the BBJ

Industry

Széchenyi István U, Hungaroring Sign Cooperation Agreement

Business Industry | Nov 28, 2023, 14:10

Business Chamber, Ministry Sign Cooperation Agreement

Business Industry | Nov 28, 2023, 08:50

Wolf Theiss Assists VIG With Strategy to Increase Stake in V...

Business Industry | Nov 27, 2023, 15:50