Lawmakers approve legal provisions for 2019 budget

Parliament on Tuesday approved a package of laws which form the basis for next year’s budget.

The package that amends 42 laws passed with 134 in favour and 58 against.

Its many provisions include rules for setting the salaries of lawmakers and ministers as well as the transfer of state funding for the Hungarian Academy of Sciences to the budget chapter on the newly established Innovation and Technology Ministry.

The ministry will also oversee the trade of Kyoto emissions units and the utilisation of revenue from emissions trade in connection with the national climate change strategy as part of a green investment system.

Under the amendment, the vocational training system, earlier overseen by the now-defunct economy ministry, will also be managed by the new ministry.

Under an amendment to the bankruptcy law, liquidation proceedings initiated by the creditor can be terminated without the creditor’s consent if the debtor certifies payment of the full amount of the debt serving as the basis for the ruling ordering the liquidation by the starting date of the liquidation. The new rule would apply for ongoing cases.

Source: MTI