Official: Gov't to revisit spending freeze in December

History

The Hungarian government is expected to make  decision in December on whether to free up or cancel HUF 110 bln in frozen budget expenditures, state secretary Péter Benő Banai reported during an online press conference yesterday.

During the conference, Banai said that the government is expected to make the final decision based on macroeconomic and fiscal data.

Varga announced the freeze last Thursday, saying that stopping spending is the only way to reach this year’s target deficit of 2.9% of GDP. Varga’s contention was qualified by Prime Minister Viktor Orbán in his regular radio interview last week, when he maintained that the freeze was simply a “precautionary measure”, and that the target would be achievable without the spending freeze.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

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.