Raising budget reserves was 'right decision' - Varga
Hungary's government took "the right decision" when it chose late last year to raise fiscal reserves and lower the budget deficit target for this year, Finance Minister Mihály Varga said in a post on Facebook, according to a report by state news wire MTI.
"With this measure, we achieved more than HUF 1 trillion in savings, so Hungary is better prepared to face global economic risks," Varga said.
The government earlier decided to postpone HUF 755 bln of investments scheduled for this year, while also reducing the general government deficit target, relative to GDP, to 4.9% from 5.9%.
"We will not allow Hungary to be dragged into this war," Varga added to his post.
ADVERTISEMENT
Number of Liquidations Increasing Rapidly
Varga Meets With Chinese Business Leaders
Hungary Tops out HUF 300bn Munitions Complex
Around 2,800 Events Take Place in European Capital of Cultur...
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.
