December 1st, 2009

Hungarian Parliament passes 2010 budget

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MPs approved next year’s budget in Parliament yesterday, around a month earlier than usual. Only one Socialist MP, Székesfehérvár mayor Tihamér Warvasovszky, voted against it, as did four Free Democrat MPs.

Prime Minister Gordon Bajnai visited the Socialist caucus before the vote.

The budget deficit target for 2010 is Ft 870 billion, the disparity between Ft 12,663 billion revenues and Ft 13,533 billion expenditure. Interest payments on state debts will total Ft 1,153.3 billion next year.

Finance Minister Péter Oszkó warned before the vote that if the bill were not approved then Hungary “will face bad times”, because the law then orders a repeat of the previous budget, which does not factor in the crisis, most notably as regards falling revenues.

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