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Hungary launches programme reducing cost of bureaucracy for businesses by HUF 500bn

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The launch of the "Simple State Programme", which aims to reduce the amount companies spend on bureaucracy by HUF 500bn, was launched on Thursday.

National Economy Ministry state secretary Zoltan Csefalvay said the cost of official administration for businesses exceeds 10pc of GDP. The Simple State Programme is expected to cut the annual average cost of bureaucracy from HUF 3m to HUF 500,000 per business, he added.

Gyorgy Vadasz, co-chairman of the Hungarian Industrial Association (OKISZ), said the programme was feasible, but added that new regulations should not create further burdens for businesses.

Peter David, managing director of the American Chamber of Commerce in Hungary, said most of the proposals AmCham had made for the programme had been included.

British Chamber of Commerce chairman Gergely Mikola said the chamber supported the programme which would boost competitiveness.

Most of the 114 measures in the programme will be implemented in 2012. The implementation of the programme will be recorded on its website.

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