MPs approved the 2016 budget at an extraordinary session on Tuesday. The budget was passed six months earlier than usual with 119 votes in favour and 63 against. The legal deadline for submitting budget bills is October 15 of the preceding year, except for election years, but the government said earlier it aimed to see next year’s budget approved before the end of Parliament’s spring session. Minister of National Economy Mihály Varga told a press conference after the vote that the budget “equals to lower taxes and safe jobs for families”. He said Parliament has thus expressed its support for the government’s policies of cutting taxes, creating jobs, raising wages and supporting investment. Varga confirmed the government’s expectations of 2.5% economic growth and 1.6% inflation, as well as reducing the national debt below 74% before 2017. Next year more money will be spent on health, education, public safety and rural development, he said.
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