Government reallocates more than HUF 30 bln from budget reserves


The Hungarian government is reallocating HUF 30.2 billion of this yearʼs budget reserves for “extraordinary government measures”, a resolution published in the latest issue of the official gazette Magyar Közlöny shows, according to Hungarian news agency MTI.

The resolution includes a number of modifications to earlier resolutions affected by the reallocation, such as funding for the renovation of the Esterhazy Palace in Fertőd, the reconstruction of the Carmelite convent in the Castle District of Budapest and a free concert featuring Placido Domingo and Renee Fleming to take place in the capital on August 10.

Any money left over from the reallocation must be accounted for and reimbursed by the head of the National Election Office, the minister in charge of the Prime Ministerʼs Office, the farm minister and the human resources minister by June 30 of next year, the resolution states.

The 2016 budget allocated HUF 120 bln for extraordinary government measures.

Lawmakers voted in June to raise both the revenue and expenditure sides of this yearʼs budget by HUF 421.7 bln on a revenue windfall. The deficit target remained the same as did the reserves for extraordinary government measures.

Hungary’s general government deficit reached HUF 402.1 bln by the end of June or 52.8% of the full-year target, preliminary data released by the National Economy Ministry yesterday shows


Investment Volume Falls 2.8% in Q1 Figures

Investment Volume Falls 2.8% in Q1

Parl't Approves Amendments to Legislation on Judiciary Parliament

Parl't Approves Amendments to Legislation on Judiciary

AutoWallis Closes Q1 With Strong Results Automotive

AutoWallis Closes Q1 With Strong Results

Borsodi Friss Receives Revamped Look Drinks

Borsodi Friss Receives Revamped Look


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.