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

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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.

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