Gov’t subsidizes gas bills of low-income families

Energy Trade

The government will spend Ft 1.6 billion on natural gas subsidies to big families and low-income households until the end of this year. The government will subsidize the gas bill of 187,000 such families, MTI said, citing government spokeswoman Emese Danks. The social subsidies for big families and low-income households will come in addition to price subsidies Hungary provides for households based on average annual gas consumption, MTI said. The government raised household gas prices by an average 27% as of Aug. 1, the newswire said. Hungarian households pay only 60% of global market price for the fuel after the price increase, MTI added, citing energy research company GKI Energiakutató es Tanácsadó Kft. Hungary said earlier it spent Ft 105 billion on gas subsidies in the first half of this year. State spending on gas subsidies amounted to 76 billion forint last year, exceeding the budgeted 45 billion forint, MTI added.

ADVERTISEMENT

Bourse Turnover Reaches HUF 230 bln in February Figures

Bourse Turnover Reaches HUF 230 bln in February

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

Money Motion 2024: The Future of FinTech Unfolds in Zagreb Fintech

Money Motion 2024: The Future of FinTech Unfolds in Zagreb

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

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.