PM Confirms 2011 Introduction of Single-rate Income Tax

From January 2011, Hungary will gradually introduce a single-rate personal income tax – Hungary’s PM Viktor Orban said in a TV interview on Monday.


Recommended read for this week: Dilemmas of Transition: The Hungarian Experience (1990)

GKI: Improving Business And Deteriorating Consumer Expectations

In July, GKI's economic sentiment index (adjusted for seasonal effects) remained unchanged.

Parliament Approves Bank Levy

Late on July 22, parliament approved a three-year bank levy which is to generate budget revenues of HUF 200 billion in 2010, including some HUF 13 billion in revenue from extraordinary bank taxes already in place.

PM Orban and Econ Min Matolcsy on Negotiations with IMF

Prime Minister Viktor Orban has stressed the improtance of a pan-European agreement to stengthen the fiscal stability of the 27 nations.


International news sources report on the Hungarian economy and business environment.

The Monetary Council Left the Central Bank Base Rate Unchanged

At its meeting on 19 July 2010, the Monetary Council reviewed the latest economic and financial developments and voted to leave the central bank base rate unchanged at 5.25 pct.

Think tank Tank Says GDP Will Grow by 1 pctPct

According to the forecast of GKI Economic Research Co. prepared in co-operation with Erste Bank, the output of exporting and service industries will expand most in 2010.


International news sources report on Hungarian banking, business and government.

The Deficit Of Theof the General Government Sector Has Decreased by 0.8 pctPct

According to preliminary data the deficit of the general government sector in the first quarterquarter of 2010 amounted to HUF 259 billion, 4.0 pct of GDP.

News Monitoring