The government submitted the draft amendment to next year's budget to the Budget Council, the Ministry of Finance told MTI on Friday. They pointed out that the year 2023 is the second year of the continuing war and the sanctioned energy crisis, which is dangerous for Hungarian families, the economy and jobs.
"Therefore, the most important task for next year is to protect Hungarian families and jobs, preserve the value of pensions, maintain utility reduction and guarantee the country's security. By amending the budget, these results can be preserved next year," they stated.
Mihály Varga/YouTube screenshot
Next year, Hungary's energy bill will increase from seven to 17 billion euros, which is why the 2023 budget is a budget for overhead protection, according to the ministry. By increasing the overhead protection fund, the budget continues to provide the resources necessary to maintain the overhead reduction up to the level of average consumption.
They added that the budget provides family support despite the difficult times, and that the range of these will be expanded next year:
young women who have children receive full tax exemption until the age of thirty. The budget also guarantees that pensions will increase by 15 percent from January, which also applies to the 13th month pension.
"The government has preserved the increased resources of the budget in education and health care, we are expecting wage increases in both sectors," indicated the ministry.
"Even in the most dangerous year, the government maintains its goal of improving the balance indicators, accordingly, the budget expects a decreasing deficit and a decreasing state debt. The goal is for the Hungarian economy to avoid a recession and for growth to continue next year. The Hungarian economy can grow by over four percent this year, and it will be possible to avoid a recession next year as well, they expect an expansion of 1.5 percent in 2023," reads the ministry's statement.
Source: Hungarian Nation
Featured image: Getty Images
