Fiscal Council clears 2017 budget bill, 2016 budget amendments

Telco

pixabay

The Fiscal Council has cleared the 2017 budget bill as well as amendments to this yearʼs budget for final votes by Parliament, according to a report published by Hungarian news agency MTI yesterday.

The Fiscal Council said the 2017 budget bill targets a reduction in state debt as a percentage of GDP, in line with the law. It added that risk reserves in the budget are “sufficient”. 

The Council said that amendments raising both the expenditure and revenue targets in the 2016 budget act by HUF 421.7 billion are well founded, based on fiscal data from January-May. 

It added that the rate of GDP growth assumed in the 2016 budget can still be achieved in spite of a slowdown in the first quarter. 

In the interest of maintaining favorable budget trends, the government should continue its responsible fiscal management, the Council said. 

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S... Figures

Ministry Dismisses Suggestion That Hungary is 'Poorest' EU S...

Economic Cooperation 'Firm Foundation' for German-Hungarian ... Int’l Relations

Economic Cooperation 'Firm Foundation' for German-Hungarian ...

Foreigners Employed in Hungary, Hungarians Working Abroad Ri... HR

Foreigners Employed in Hungary, Hungarians Working Abroad Ri...

Sziget Tops Slingo Music Festival Ranking In Budapest

Sziget Tops Slingo Music Festival Ranking

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.