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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. 

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