Report: Varga plans to raise pensions by 0.9%

Food

In planning next year’s budget, one of the aims is for social benefits to preserve their value, as such the Hungarian government is proposing to raise pensions by 0.9%, in light of anticipated inflation figures, Hungary’s National Economy Minister Mihály Varga told economic daily Világgazdaság today.

Varga stressed that the pace of consumer price increases would be slowed by the planned 22% price drop of poultry, eggs and milk, while price indices are expected to benefit from the 9% drop in VAT on internet services and the food tax on restaurant meals, the daily reported. 

The paper noted that the National Bank of Hungary (MNB) said in an earlier report that it expects 2.4% inflation for 2017, however, the planned VAT reductions were not announced when the report was published.

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.