Varga meets with pharma sector leaders

Pharma

Image by Alexandros Michailidis / Shutterstock.com

Finance Minister Mihály Varga met with representatives of the Hungarian National Association of Pharmaceutical Manufacturers (MAGYOSZ) on Monday, according to a report by state news wire MTI.

In a post on Facebook, Varga said the local pharmaceutical industry "came out of the crisis strengthened".

He noted that the government is setting up funds to protect the regulated household utilities price system and to upgrade the country's military defense. The government expects a number of sectors to contribute their "extra profit" to the funds, he added.

"The government's goal is to build an economy resilient to crisis, preserve the country's stability and protect the results achieved until now," he said.

Days earlier, the government announced windfall taxes on the banking, insurance, energy, retail, telecommunications, airline, pharmaceutical, and advertising industries for a period of two years.

The windfall tax on the pharmaceutical sector is expected to generate an annual HUF 20 billion.

ADVERTISEMENT

Annual Inflation Hits 23-Year High in May Analysis

Annual Inflation Hits 23-Year High in May

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group Appointments

Dóra Petrányi to co-head CMS Tech, Media, and Comms Group

Budapest targets tourists with public transport fare hikes City

Budapest targets tourists with public transport fare hikes

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.