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PM says gov’t approves 2010 draft budget

Hungary’s government has approved a stringent, austere draft budget for 2010, which, however, contains additional resources in certain areas, Prime Minister Gordon Bajnai announced in Budapest.

Following the government meeting, the prime minister told the press that the Hungarian economy is moving along a “fixed path” due to the crisis, with economic growth falling a combined 7.5% over two years, and the 3.8% budget deficit target means that spending must be kept under control in all areas.

Bajnai said the 2010 budget provides coverage for tax cuts and even allows the VAT on the heat used for district heating to be lowered. (MTI – Econews)