Gov't submits 2022 budget bill
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Finance Minister Mihály Varga submitted the government's 2022 budget bill to lawmakers on Tuesday, state news wire MTI reports.
"The government's economic policy has not changed in this extraordinary situation. Preserving workplaces, assistance for creating jobs, supporting families, tax cuts and incentivizing investments remain the focus," Varga said at a press conference streamed on the ministry's Facebook page.
He added that the government's four policy "pillars" in past years, "workplaces, families, tax cuts, investments", also have pride of place in the 2022 budget bill.
Varga said the "most important element" of the 2022 budget is the economic recovery action plan which aims to ensure that everyone in a difficult position because of the crisis can "get back up on their feet" again.
He said budget resources would be used to put people who are out of work because of the crisis back in their old jobs or in new ones, and to support the re-start of businesses forced to close because of the pandemic.
Varga said the six main goals of the budget are support for families, jump-starting the economy, continuing the reintroduction of the annual pensioners' bonus, the personal income tax exemption for Hungarians under 25, a further reduction of the tax burden for employers, and ensuring the necessary resources to support job creation and investments.
He noted that the budget targets a "dynamic" GDP growth rate of 5.2% and a 5.9%-of-GDP deficit.
Varga presented a paper and a digital copy of the bill to Deputy House Speaker János Latorcai.
Latorcai said lawmakers could take the final vote on the budget on June 11 or 14.
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