Hungarian Govt: No Risks In 2015 Budget

  • 12 Dec 2014 8:00 AM
Hungarian Govt: No Risks In 2015 Budget
Government officials have said there were no risks in the 2015 budget, noting that the budget had not taken into account the some 300 billion forints (EUR 980m) in profit the National Bank of Hungary is expected to generate and saying there was fiscal room for a number of big investments.

They said the 169 billion forints in revenue targeted in the budget from the sale of state-owned assets would involve “cleaning up” the state’s portfolio of real estate, noting that foreign hotel investors had expressed interest in the buildings that house the interior and economy ministries.

The government will also take over a property in the Castle District from the Hungarian Academy of Sciences in exchange for expanding the academy’s research network.

The sources said 300-350 billion forints in European Union funding could be used for suburban rail transport developments around the capital.

Speaking about state reforms, they said raising national defence and police headcount would be necessary, while layoffs were expected in other areas of the public sector.

The cabinet wants to launch a programme that gives tax preferences to employers who hire these laid-off workers.


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