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May 24, 2018

Hungary’s Finance Minister: First session of the Economic Cabinet focused on next year’s budget and tackling economic policy issues

Mihály Varga said the topic at the top of the first meeting’s agenda was the drafting of the state budget for 2019, which is taking place this spring, in line with the schedule used in recent years

Hungary’s finance minister has revealed that the first session of the Economic Cabinet focused on next year’s budget and tackling economic policy issues over the coming years.

Mihály Varga said the topic at the top of the first meeting’s agenda was the drafting of the state budget for 2019, which is taking place this spring, in line with the schedule used in recent years.

The minister noted that this timing bolsters predictability and calculability as everybody can see the fiscal manouvering room half a year ahead of the new calendar year.

He added that the document will be completed in the coming weeks and will then be discussed at government forums and submitted, together with the opinion of the Fiscal Council, to the National Assembly.

The new Economic Cabinet comprises Finance Minister and Deputy Prime Minister Mihály Varga; Minister without Portfolio responsible for the Management of State Assets Andrea Bártfai-Mager; Minister for Innovation and Technology László Palkovics; and Minister Gergely Gulyás, who heads up the Prime Minister’s Office.