Hungarian government considering cutting transaction duty

Budapest, December 1 (MTI) – The government is willing to cut the transaction duty if the volume of banks’ corporate loans increases by at least 20 percent, Economy Minister Mihály Varga said at Deloitte Hungary’s “Economic Growth and Competitiveness” conference in Budapest on Thursday.

This obviously would have an upper limit, the minister said, adding that the government will consult the banking association on the matter.

Varga said the economy ministry’s calculations show growth is likely to remain slightly below 2.5 percent this year, Varga added.

Government debt as a percentage of GDP could fall under 74 percent this year, the minister said.

Source: MTI