Bloomberg News

Hungary ‘Depleted’ One-Off Budget Measures in 2011, Jarai Says

September 29, 2011

Sept. 29 (Bloomberg) -- Hungary has “depleted” its arsenal of one-off budget measures this year, including the levy of extraordinary industry taxes and the effective nationalization of private pension funds, said Zsigmond Jarai, head of the Fiscal Council.

The government needs to cut spending and produce savings next year to meet budget goals, Jarai told a conference in Pecs, southern Hungary today.

Jarai heads a three-member Fiscal Council, charged with reviewing the budget before it’s submitted to Parliament.

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net


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