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Finance Minister Talks Up Budget Surplus as Evidence of Fiscal Discipline

HUNGARY
  • Following the budget surplus announcement yesterday, the finance minister has stated that the data is evidence that the government are succeeding with fiscal discipline, and doubled down on their commitment to cap energy bills and preserve benefit payments.
  • Draft legislation drawn up by the government and published yesterday showed new rules that would allow the National Bank of Hungary to be quickly recapitalized in the event of significant losses. The measures extend the period within which the government must compensate the NBH to eight years (from 8 days currently).
  • In another step toward containing food price inflation, the government are to cap the prices for eggs and potatoes into year-end, setting prices at levels set on September 30th.
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