State Audit Office gives 2022 budget bill the all-clear


Photo by

The State Audit Office (ÁSZ) on Friday said it established the government's 2022 budget bill is "well-founded": revenue targets are achievable and expenditure targets are sufficient for public services, according to a report by state news wire MTI.

ÁSZ chairman László Domokos presented the office's opinion on the budget bill to Deputy House Speaker Sándor Lezsák in parliament.

The office acknowledged in the opinion that the targeted 0.6-percentage-point reduction in the state debt ratio complies with rules stipulated in the constitution.

Hungary's constitution requires year-end state debt, relative to GDP, to decline each year until the ratio reaches 50%.

ÁSZ said 98.3% of budget revenue targeted in the bill is "well-founded", while 1.7% is "partially sound" and 0.4% is "risky". It identified an undershoot of revenue from corporate tax as the biggest risk.

The office said 98.9% of expenditure targets are "well-founded" and 1.1% are "partially sound".

ÁSZ noted the 2022 budget was drafted in the context of "tangible macroeconomic uncertainty" and stressed the importance of "resilience" for both the budget and the economy during the pandemic, allowing "flexible adaptation to macroeconomic conditions".


Financial Companies' Earnings Fall in Q1-Q3 Figures

Financial Companies' Earnings Fall in Q1-Q3

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Infomix Becomes Tenant at CityZen Office Market

Infomix Becomes Tenant at CityZen

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...


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.