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Feb 05, 2018

Hungarian government will reduce taxes by 1,500 billion HUF (4.8 billion EUR) in six years to boost wage growth

Mihály Varga said that instead of supporting illegal migration, Hungarian salaries and small enterprises need to be made more competitive

Hungary’s economy minister has said that the Hungarian government will reduce taxes by a total of 1,500 billion HUF (4.8 billion EUR) in six years to boost wage growth in the country.

During an interview with Magyar Idők, Mihály Varga said that instead of supporting illegal migration, Hungarian salaries and small enterprises need to be made more competitive.

He said that many believe in the West that illegal migrants arriving from Africa, Asia and the Middle East could not only ease the labor shortage but also settle the demographic crisis. However, recent years showed that supporting illegal migration leads to a dead-end and cannot solve problems.

The minister said that the government wants to ease the labor shortage by supporting and involving Hungarian workforce and businesses. He noted significant achievements in reducing unemployment to around 4 percent, with nearly 800,000 more people holding jobs in Hungary than in 2010.