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This year’s budget must be drastically transformed

At a video conference held with the participation of members of the government and leaders of chambers of economy, Prime Minister Viktor Orbán said this year’s budget must be adjusted to the current situation, and to the changes projected up to the end of the year.

In the company of Minister for Innovation and Technology, the Prime Minister told executives of the central bank, chambers of economy and business interest representations that at present there is no point in drafting a new budget as there is no way of knowing what will happen in the near future, and the need may arise for the drafting of yet another new budget in two months’ time. He added that the laws, however, allow departure from the adopted budget.

Automatically cutting specific items in the budget would not be the right response, Mr Orbán pointed out. In his words, only those resources should be left in the budgets of ministries which are absolutely essential, and from the resources that can be relieved separate funds should be set up for managing the crisis and restarting the economy.

Preparations for the drafting of next year’s budget are already under way, and for 2021 “a stripped budget” should be prepared which provides the widest possible scope for the management of the crisis and restarting the economy, the Prime Minister stressed.

Mr Orbán pointed out that they must launch the biggest economic stimulus action plan of all time, setting growth, job creation and the preservation of jobs as the main goals.

Together with the central bank, they must make a plan for using monetary and fiscal means in such a way as to give the Hungarian economy maximum impetus, the Prime Minister stressed.