Hungarian business association MGYOSZ on Thursday voiced its support for the main directives of Hungary’s Convergence Program but said keeping extraordinary taxes and putting off tax cuts could stymie growth in the future.
MGYOSZ said it supports aims in the program to reduce state debt, bring the fiscal deficit under 3% of GDP and take steps to create jobs. But it warned that partially keeping “crisis” taxes on some sectors as well as postponing cuts in corporate tax and payroll contributions could hold back growth.
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