Hungarian government has submitted a bill to the parliament that would raise the planned expenditure under 2012 budget bill by HUF 95.7bn (EUR 336.8mn) to HUF 15,109bn, MTI news agency reported. The revenues will remain unchanged thus the cash flow deficit target has been set to increase by 16.6% to HUF 671.9bn. The amendments to the budget bill are necessary because of the government's plan to take over 100% of the local council debt of communities with fewer than 5,000 residents by end-2012. As MTI reported in late October, the measure will affect some 1,673 communities. The takeover for bigger municipalities is expected to be carried on by mid-2013. The debt consolidation will not affect the ESA-95 budget deficit. |
Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more
The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more
The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more