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Hungary – the government settles the budget for 2012

26. October, 2011

The Hungarian government has finalized a draft version of the 2012 budget which includes several important tasks among which is the full implementation of a proportional, flat-rate tax system, and stabilization of the pension system and the health fund.

Hungary’s targets for 2012 project 4.2% annual average inflation and at least 1.5% GDP growth. A bigger stress will be put on local production and industry.

The bill also projects a rise of exports and imports as well as a 1% rise in employment Matolcsy said. National Economy Minister György Matolcsy said that 200,000 jobs will be established in the government’s Start public work program for which the country has allocated HUF 132bn is allocated in the budget.