Hungarian Parliament Passed the Budget Bill 2010 in December

Kovács, O. (2009): Hungarian Parliament Passed the Budget Bill 2010 in December. News of the Month, ICEG European Center, November-December 2009 pp. 19-23.

The paper aspires to answer the question of whether the started fiscal austerity is enough to place the Hungarian economy onto a more sustainable path. It is increasingly accepted that fiscal sustainability positively contributes to the economic growth in the long run. The crown jewel of a sustainable fiscal policy can be the passed budget law. In Hungary, the parliament accepted the corner numbers of 2010 budget bill on 1 December. This budget yet can be ranked to the queues of austerity budget laws which have been made by the government since autumn 2006. As a result of stern internal and external pressure, Hungary has to continue maintaining the strict fiscal discipline to preserve its solvency.

Leave a Reply