Hungarian Parliament adopts 2009 budget
www.chinaview.cn 2008-12-16 08:26:17   Print

    BUDAPEST, Dec. 15 (Xinhua) -- Hungarian Parliament adopted the budget for 2009 on Monday in a vote of 209 in favor and 171 opposed.

    Hungarian News Agency MTI reported that the Hungarian government expected the public finance deficit to amount to 2.6 percent of GDP in 2009, which means Hungary will meet the Maastricht criteria for euro zone entry.

    The main figures of the 2009 central budget include revenues of 8,300.2 billion forints (42 billion U.S. dollars), expenditures of 8,961 billion forints (45.4 billion dollars) and a deficit of 660.8 billion forints (3.3 billion dollars).

    Finance Minister Janos Veres said that in the wake of the financial crisis the government had redesigned Hungary's macro-economic course for the next year.

    The government projects the economy to contract by 1 percent, real wages to fall by 2.7 percent, investments to decrease by 0.9 percent and household consumption to drop by 3.1 percent, Veres said.

    The government projects inflation to drop to 4.5 percent in 2009 from 6.4 percent in 2008.

    Hungary's economy grew 1.3 percent last year, but it grew only 0.7 percent in the third quarter this year.

    Also on Monday, the Hungarian parliament approved a political statement that condemns radicalism, xenophobia and violence, and expresses concern over some Slovak politicians' speech of hatred directed against minorities.

    Four out of the five parliamentary parties supported the document, which was adopted by 343 supporting votes, one opposed and 27 abstentions, according to a report by MTI.

Editor: Chris
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