• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Lawmakers raise 2019 budget revenue, expenditure targetsLawmakers raise 2019 budget revenue, expenditure targetsLawmakers raise 2019 budget revenue, expenditure targetsLawmakers raise 2019 budget revenue, expenditure targets
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Alexandra Béni Alexandra Béni · 16/07/2018
· Business

Lawmakers raise 2019 budget revenue, expenditure targets

budget investment law money parliament
house speaker voting parliament

Budapest, 2018. július 16. Kövér László, az Országgyûlés elnöke szavaz a 2019. évi büdzsé összegzõ módosító javaslatáról az Országgyûlés plenáris ülésén 2018. július 16-án. A törvényhozás 123 igen szavazattal, 49 nem ellenében elfogadta a javaslatot. MTI Fotó: Koszticsák Szilárd

Parliament on Monday voted to raise the revenue and expenditure targets of the 2019 budget by 267.5 million forints (EUR 830,000).

Lawmakers approved the amendments with 123 in favour and 49 against.

The amendments raise the revenue and expenditure targets to 19,580.4 billion forints and 20,578.8 billion forints, respectively, leaving the cash-flow based deficit unchanged at 998.434 billion forints.

One of the most substantial amendments is one that raises the cap on the surety stock undertaken by guarantor Garantiqa Hitelgarancia with state counter-guarantee to 750 billion forints from 650 billion forints at the end of December 2019, with the aim of facilitating access to credit for SMEs, in particular micro enterprises.

Moreover, the government submitted a bill on highlighted developments in Budapest.

The bill defines how the state will be involved in major developments in Budapest, including a new Student City.

According to the bill sponsored by Gergely Gulyás, the head of the Prime Minister’s Office, future developments in Budapest will receive highlighted status if, among other conditions, they are financed by the government or by the European Union. The bill also defines “top international sporting event”.

A state nonprofit will be responsible for the preparation of key developments in Budapest, investments, planning and licensing, as well as the organisation of major international sporting events.

Plans are also afoot for the development of an athletic stadium with accompanying facilities, leisure park and rowing center as part of the Student City in southern Pest and northern Csepel.

The bill also includes plans for the Buda Castle and its surroundings. Just as the development of Kossuth Lajos Square in front of Parliament was regulated by a special law, the government argues that Buda Castle, from the Dísz Square to the Royal Palace, should be similarly regulated, with the state taking control of the area from the municipal council.

The bill’s proponent also seeks to amend legislation on investments of major importance for the national economy, complementing it with the term “high-priority public investment” covering related investments in energy, transport development, environmental protection, water protection, disaster management, defence, national security, public administration, education, health, research and development, culture, heritage, sport and urban development.

Also the bill aims to change the 1996 corporate tax and dividend law and the 2004 law on film production in light of the European Commission’s approval of an increase of the tax subsidy from 25 percent to 30 percent as part of the Hungarian film support programme.

Featured image: MTI

Source: MTI

budget investment law money parliament
Share
Alexandra Béni
Alexandra Béni

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • Will it all come out? Report on the 2022 Hungarian parliamentary elections declassified
  • AGROmashEXPO draws 44,000 visitors
  • PHOTOS: 7 fabulous winter lake destinations in Hungary
  • Russian companies are flocking to Hungary amid the sanctions
  • Moroccan education minister Abdellatif Miraoui held talks in Hungary
  • Brutal murder in downtown Budapest: a Mongolian man beat his girlfriend to death
  • Hungarians living in Madrid and Spain also preserve their culture
  • Government official says debate over Debrecen battery factory is not about environmental protection

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V