Govt meets for two-day session to fill budget gap

Banking

Filling a HUF 100 billion gap in next year's budget, analysing the effect of the global crisis on the Hungarian economy and restructuring the higher education system are some of the issues the government will discuss at a two-day meeting in Lovasbereny, near Budapest, on Monday and Tuesday, spokesman for the prime minister Peter Szijjarto said in an interview with public radio 1 early Monday.

Government officials said earlier the government would meet to on Monday and Tuesday to fill a HUF 100 billion "hole" in the 2012 budget resulting from slower economic growth. They said the government was likely to take a decision on 8-10 smaller measures rather than a single big one.

Prime Minister Viktor Orban said on Thursday that the government could raises taxes on cigarettes, alcohol and lottery tickets.

The government will discuss the effects on Hungary of the sovereign debt crisis in the eurozone and measures to buffer against these effects,  Szijjarto said. The restructuring of large sectors, including the restructuring of the higher education system, are also on the agenda, he added.

Asked about the possible introduction of a solidarity tax that would be levied on the rich,  Szijjarto reiterated the government's stand on keeping a proportional tax system.

The government introduced a flat-rate personal income tax regime this year.

 Szijjarto said the government would also review programs already launched, such as the Szell Kalman Plan, a structuring reform program launched in March.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.