Varga: Demján's estimates baseless

Analysis

Estimations made by Sándor Demján, head of business association VOSZ, suggesting that Sunday shop closures would cause a HUF 200-HUF 250 bln shortfall in budget revenue are baseless, Hungarian Economy Minister Mihály Varga said today on state-owned television channel M1.

Varga admitted that the measure could result in a drop in retail trade turnover, however he added that assuming “all Sunday turnover will be lost is nonsense”.

The minister also disputed estimates that the move would eliminate 25,000-30,000 jobs. Varga further added that the ministry expects no change in the number of jobs in retail trade, as several surveys show a considerable number of vacancies in the sector, he said, citing an employment service estimate of 2,500 unfilled jobs in the industry. 

ADVERTISEMENT

Czech economic confidence weakens in July Analysis

Czech economic confidence weakens in July

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.