Cigarette price increase earlier than planned

Tobacco excise tax will be increased earlier than planned in next February and in July, instead of the previously-planned May and November dates and the increase will be higher than expected. The government expects twenty billion extra revenues from it.

Matolcsy György economy minister last week announced that next year's budget will be recalculated on 299 HUF/ Euro exchange rate, instead of the former 268 HUF/ Euro exchange rate and instead the formerly calculated economic growth of 1.5 percent next year it will be 0.5 perecent. Due to the change a further 320 billion HUF will be needed in the budget. A part of this will be covered by the excise tax increase of  tobacco – reports MTI.