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Oct 22, 2020

Finance Minister says recent budget achievements have helped blunt negative effect of pandemic

Instead of introducing austerity measures, the government has been managing the crisis with the help of a comprehensive program aimed at preserving jobs and supporting families.

 

Finance Minister Mihály Varga said the budgetary and financial macroeconomic achievements of recent years have created a firm basis to blunt the negative economic and social effects of the novel coronavirus epidemic.

Minister Varga told parliament during the debate on the final accounts for 2019 budget that the left wing had described last year's budget as unpredictable and unsustainable, but, he insisted, they have been proven wrong.

Instead of introducing austerity measures, the government has been managing the crisis with the help of a comprehensive program aimed at preserving jobs and supporting families, with a focus on guaranteeing the security of Hungarians, he said. One important condition for this in recent years, including last year, was pursuing disciplined and predictable economic policy that boosted the economy.

László Domokos, head of the State Audit Office, said that an audit of the implementation of the 2019 budget showed that the institutional system ensured that public monies were spent in line with regulations. The bill on the closing of accounts is well-founded and all revenue and expense figures included were reliable, he added.

Photo credit: Portfolio