- 23 Jul 2018 8:09 AM
- Hungary Matters
The bill was approved with 128 votes in favour and 56 votes against.
The 2019 budget targets revenue of 19,580.4 billion forints (EUR 60.1bn) and expenditures of 20,578.8 billion forints, leaving a deficit of 998.4 billion forints.
It targets economic growth of 4.1% and a budget deficit of 1.8% of GDP based on European Union accounting rules. The public debt-to-GDP ratio is seen dropping to 70.3% from 72.9% next year.
In nominal terms, the budget puts public debt at 31,430.6 billion forints at year-end. Finance Minister Mihály Varga said earlier that next year’s budget would ensure “steady growth”.
The budget allocates 15 billion forints more for education, 101 billion more for health care and 156 billion forints more for defence and public safety measures. It also allocates an extra 40 billion forints for combatting mass migration and counter-terrorism measures.
The budget earmarks 242 billion forints for the government’s family home purchase subsidy scheme CSOK. Tax benefits for families with two children will rise to 40,000 forints.
MTI Photo: Balogh Zoltán