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Orbán: ‘Brave, Novel’ Decisions Needed to Support Growth

MTI-Hungary Today 2021.06.15.

“Brave and novel decisions” are needed to make sure economic growth this year exceeds 5.5 percent, Prime Minister Viktor Orbán said on Facebook on Tuesday.

“If we succeed, we’ll be able to return the income tax paid in 2021 by families with children,” Orbán said.

Referring to the 2022 budget passed earlier in the day, Orbán said the budget law was “a good basis but insufficient in itself” to restart the Hungary’s economy.

Orbán pledged to continue phasing in the 13th month pension and ensure personal income is not paid by people below the age of 25.

Parliament Passes Hungary's 2022 Budget
Parliament Passes Hungary's 2022 Budget

The government drafted its budget bill envisaging a GDP growth of 5.2 percent, 3 percent inflation, a deficit target of 5.9 percent of GDP, as well as emergency reserves of 0.4 percent of GDP.Continue reading

Further, an agreement may be reached with companies to raise the monthly minimum wage to 200,000 forints (EUR 569) as well as further reducing labour taxes. “This is a big task but not impossible,” Orbán said.

Featured photo via Viktor Orbán’s Facebook page