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Gulyas Says Windfall Taxes to Remain in 2024 in Some Form

HUNGARY
  • The announcement by Gulyas today that windfall taxes will stay in some form in 2024 has the potential to weigh on local equities further following a near 6% decline in the Budapest Stock Index since the announcement on February 26 that windfall taxes on the banking, pharmaceutical and energy sectors will be extended into 2023.
  • The BUX index sits 1.05% lower today - outpacing the decline of its regional peers.
  • “Where we can, we will cancel them, where we cannot, we will reduce them,” Gulyas said.

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