Mihály Varga: the government will introduce the extra profit tax in 2024
Next year, the government expects to remove the extra burdens, as previously promised, the Minister of Finance stated at the 34th annual board meeting of the Hungarian Bank Association in Budapest on Friday.
He emphasized: the Hungarian banking system is able to perform well even in the deteriorating international environment. The economy would not be able to function smoothly without the appropriate banking sector, and the sector could not be effective without a well-performing economy, the minister said.
The favorable labor market data and the permanent number of employees of 4.7 million also indicate that the Hungarian economy will hold up even in times of war. Maintaining this is an important task in the future as well, he said. The minister emphasized: based on last year’s data, the capital adequacy ratio of the banking system exceeds the regulatory minimum by two times, and the loan/deposit ratio is also more favorable than the EU average.
Economic protection during times of war and energy crisis has costs, he explained, underlining that the government still sees the extra-profit tax introduced last year as a temporary solution.
Related news
MNB: price stability is the basis for sustainable growth
The new leadership of the central bank is committed to…
Read more >Mihály Varga: economic stability is the most important thing
Mihály Varga, the newly appointed Governor of the Hungarian National…
Read more >Mihály Varga: the central bank’s primary goal is to maintain price stability
The primary goal of the Hungarian National Bank (MNB) is…
Read more >Related news
Saving money, searching online, hunting for deals – this is how Europe will shop in 2025
58% of European shoppers still don’t expect their purchasing power…
Read more >Hamburger picture 2025 – this is how Hungarians eat hamburgers
Hungary’s undisputed favourite is the beef burger – preferably loaded…
Read more >A campaign to encourage the consumption of Trappist cheese has been launched
The Ministry of Agriculture (MA) and the Agricultural Marketing Center…
Read more >