Hundreds of thousands of Hungarians will receive pay rises this month due to higher salaries that came into effect on January 1st
“In addition to the work of the Hungarian people, both the good performance of the Hungarian economy and the tax cuts are enabling these wage increases, and their effects are being reinforced by our family support schemes,” Csaba Dömötör said
Hungary aims to become a competitive country that can perform successfully in a new global economic age
Back in 2015, the government decided to put the following year’s budget up to vote in the spring session of the Parliament, an important decision to increase predictability and improve planning. This year is no different. Though 2018 will be an election year, the government has held to a tight fiscal policy in the new budget. Continued stability and growth make possible a boost in competitiveness and tax cuts for families.
Hungary's 2018 budget would contain a two percentage point cut in the payroll tax, a one percentage point reduction in the tax on small businesses, a decrease in the VAT rate on internet service and fish, expanded tax preferences for families with children, higher public sector wages and 400 billion for roads and developments in big cities