ADVERTISEMENT

Gov't submits 2022 budget bill 

Government

Image by Shutterstock.com

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.

ADVERTISEMENT

Special Effects acquires stake in Spanish event production f... Deals

Special Effects acquires stake in Spanish event production f...

FGS Go! outlays reach HUF 2.22 tln MNB

FGS Go! outlays reach HUF 2.22 tln

Hungarians in digital classrooms to get free internet in May Government

Hungarians in digital classrooms to get free internet in May

Slovenia, Bahrain to honor Hungarian immunity certificates Tourism

Slovenia, Bahrain to honor Hungarian immunity certificates

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.