April 21st, 2017

Gov’t office chief: 2018 budget “to benefit employees”

Next year’s budget is targeted at people who make a living as employees, the government office chief said. János Lázár told a weekly press briefing that the 2018 budget submitted to the Fiscal Council on Thursday would focus on “employment, support for families and security”. He added: “When Fidesz is in government there is no election budget”. Concerning actual measures in the budget proposal, Lázár mentioned reducing VAT on fish and internet services to 5%. He confirmed that the government targets an economic growth rate of above 4%, a budget deficit of 2.4% of GDP and a public debt-to-GDP ratio of 72-73%.

Around 80% of the budget will go towards running the country and 20 % towards economic development, he said. Lázár added that next year’s tax laws and legislation supporting the budget, as well as an amendment to the 2017 budget, will also go before parliament. This year’s budget needs to be modified to reflect wage hikes, lower employment-related contributions as well as revenues from state-owned land sales, he said. The budget is expected to be submitted to parliament next week and the national assembly will vote on it before June 15.

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