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Former FM questions 2010 economic correction

Ex finance minister Péter Oszkó raised question about the necessity of a HUF 600 billion correction enacted by the government. He also noted that the introduction of single-bracket personal income taxation will severely impact the budget balance.

Growing interest payments, currency depreciation and the unwarranted raising of certain institutional spending caused the budget HUF 100-150 billion in additional expenses, Oszkó told fn.hu in an interview. The government responded to theses developments with rather improvisational means, such as the introduction of crisis taxes and nationalizing private pension fund deposits.

He also firmly rejected accusations targeted at himself and former prime minister Gordon Bajnai that their cabinet tampered with budget figures. (BBJ)