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MOL hopes crisis tax will be temporary, says CEO

Banking

Hungarian gas and oil company MOL CEO József Molnár told the business television-channel CNBC that the company understands the need to contribute to the reduction of Hungary's budget deficit, though hopes that the government's crisis taxes will be temporary, Dow Jones reported on Wednesday.

"We understand the necessity of a crisis tax, but we hope it'll be temporary because in the longer run, the tax is an expense," Molnár said in an interview on CNBC.

Hungary's government last year introduced crisis taxes on companies operating in the energy, telecommunications and retail sectors. The taxes are expected to generate HUF 161bn in revenue per year through 2012.

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