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Parliament approves HUF 15.7 billion budget adjustment

Parliament on Monday approved HUF 15.7 billion in withdrawals from budget-funded institutions, bringing the total adjustment made by the government to the budget in just one month to HUF 55 billion, business daily Napi Gazdaság reported on Tuesday.

The package approved on Monday takes HUF 9.3 billion from the revenue of the National Transport Authority, HUF 5 billion from financial market regulator PSzÁF, HUF 1.1 billion from the Hungarian Energy Office and HUF 319 million from the Hungarian Patent Office. MPs also voted to cut subsidies for political parties by 15%, or HUF 223 million.

The adjustment could be a response to the country's ballooning deficit. Hungary's general government, excluding local councils, had a cash flow-based deficit of HUF 297.4 billion in June, bringing the six-month deficit to HUF 1,033.6 billion or 118.8% of the full-year target, preliminary figures announced by the National Economy Ministry a week ago show. (MTI-Econews)