news letter Our mobile application

Weekly newsletter

Budget Amendment Submitted on Monday

admin 2014.07.15.

Minister of National Economy Mihály Varga submitted an amendment to the budget law to Parliament on Monday. The budget amendment’s goal is to raise the expenditure side of the 2014 budget by EUR 490 million (152 billion HUF), financing the state’s intentions of broadening the public sector.

The proposed extra finances will fund the purchase of broadcaster Antenna Hungária, Magy Gáz Transit, a gas delivery company, and the waste management company AVE Magyarország. The purchase also includes Budapest gas distributor Főgáz as most of the transactions will not affect budget deficit targets.

The Fiscal Council warned in a review of the bill’s draft that higher expenditures could impact the European Union mandated budget cap, adding that due to the purchase the reduction of Hungary’s state debt could also be minimal this year.

Photo: Kispados