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Interest expenditure target for 2013 "realistic"

Banking

The HUF 1,225.5 billion target for interest expenditures in next year's budget is "realistic" and could even be lower if Hungary reaches an agreement on financial assistance from the International Monetary Fund and the European Union, deputy state secretary at the National Economy Ministry Péter Benő Banai told journalists on Wednesday.

Asked whether the HUF 98 billion in interest reserves allocated in this year's budget would be sufficient, Banai said a possible overshoot would be countered not only by the interest reserves but by other reserves and government measures too.
Responding to another query about possible losses a planned tax on power lines, telecommunications lines and pipelines owned by utilities companies, could cause local councils, Banai said additional resources for municipalities were not on the agenda. He added that the government was keeping a cap on utilities tariffs, thus preventing companies from passing the cost of the tax on to consumers.

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