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FinMin urges launching of local-government, tax and social reform

Finance Minister János Veres said on Friday that three important reforms must be launched in the near future -- local-government, tax and social reform.  

Speaking at the Entrepreneurs’ Day business forum in Budapest on Friday, Veres said that more than 100,000 jobs have been eliminated from the public sector over the past two years. Veres said the government is prepared to increase Garantiqa Hitelgarancia’s stock of guarantees of to HUF 900 billion from HUF 450 billion, which could help to provide SMEs with credit and liquidity.

The Parliament will soon vote on the proposal to raise Garantiqa Hitelgarancia’s stock of guarantees, Veres noted. Veres said limiting the year-end bonus for pensioners is not a one-off decision, but will likely remain an element of the pension system. (MTI-Eco)