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Parliament allocates additional HUF 60 bln for ‘migrant crisis’

Telco

The Hungarian Parliament today approved legislation to raise the allocation for “extraordinary government measures” by HUF 60 bln to HUF 160 bln in the 2015 budget to cover the cost of managing the "migrant crisis", Hungarian news agency MTI reported today.

The authors of the bill said that the allocation of HUF 100 bln approved earlier has already been spent, including an additional HUF 30 bln that went “towards managing the migrant crisis”, the news agency reported. 

Hungary’s Prime Minister Viktor Orbán said on Friday that the European Union is still debating how it will solve the refugee crisis, however, “we do not understand it entirely, as we have entered a new time zone” and solved the problem through the closure of “our” borders.

Nonetheless, extra spending will be balanced by a HUF 36 bln increase of the budget target for VAT revenue and a HUF 25 bln rise in the target for revenue from excise tax, leaving the budget deficit unchanged, MTI said.

In a separate paragraph, the legislation mandates the state takeover of up to HUF 47.1 bln in debt from the Media Service Support and Asset Management Fund (MTVA), which employs staff who work for Hungaryʼs public media outlets, MTI added.

It was reported in the beginning of October that the Hungarian government was planning to propose and amendment to the central budget to establish an allocation with no limit to prepare for “unforeseen expenditures” related to the “migrant crisis”.

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