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Budget Plans Detail 10% Cut to Central Government Spending

HUNGARY
  • The Government released further details on the windfall tax and budget package over the weekend, with Orban publishing decrees outlining $6.1bln in spending cuts, with the windfall tax plan seen targeting a number of industries from banking to oil & gas to retail sectors.
  • The decrees detail a 10% cut to central government spending across both this year and 2023, with state investments amounting to HUF 1.2trl suspended for the duration.

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