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State secretary says extraordinary financial-sector tax to last for only two years

Hungary's government would impose its extraordinary financial-sector tax for two years rather than the originally planned three years, National Economy Ministry Strategic State Secretary Zoltán Csefalvay told the online news-portal Hírszerző.

The government would not compromise, however, on the planned revenue of HUF 200 billion (€704.4 million) to be generated from the tax annually, he said.

Cséfalvay told the online news-portal that the government's second economic action plan due this summer would be aimed at improving competitiveness and trimming bureaucracy and administrative burdens.

When asked about the large structural reforms such as the restructuring of the health or the education systems urged by many analysts, the state secretary said they need a longer time to prepare and implement.

“It is feasible to make such changes when the economy is on steady growth path and the conditions for such growth should be created first”, Cséfalvay said, noting that the government's 29-point economic action-plan announced on June 8 served that goal. (MTI – Econews)