Are you sure?

Govt to explore ways to cut cost at budget organizations and state companies

The government will establish committees by Thursday to analyze the tasks and operations of budgetary organizations and majority state-owned companies and formulate proposals to cut their operating costs under a resolution published in the official gazette Magyar Közlöny on Tuesday.

The aim of the review is to help keep Hungary’s 2012 fiscal deficit under the targeted of 2.5% of GDP.

After the detailed review of the field, the sector-based committees will make recommendations for reducing budgetary expenses for the organizations gradually during a three-month period between January 10 and April 10.

The proposals should include steps to make the internal operation of the organisations more up-to-date and efficient, the eventual elimination or downsize of institutions or units.