Economics
Hungary’s Temporary Taxes Postpone ‘Painful’ Cuts
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Hungarian Prime Minister Viktor Orban’s decision to reduce the budget deficit through temporary taxes delays the pain of tackling eastern Europe’s highest debt.
The government said yesterday it will impose levies on energy companies, telecommunications operators and retail chains. The taxes, together with a previously announced bank levy, will raise 343 billion forint ($1.76 billion), or 1.4 percent of economic output, annually for three years.