While migration-related tasks require higher spending, prudent fiscal management demands fiscal stability. Through the amendment of the 2015 Budget more funds will be made available in order to cover potential unforeseeable expenditures in coming months.

The Government provides extra funding required for the handling of the migration issue as much as the budget allows, but it is also expecting financial support from the European Union. First HUF 6.6bn, after that HUF 22.2bn have already been re-allocated for managing the extraordinary immigration and migration pressure.

For the remainder of the year, the Extraordinary Government Measures Fund will be added HUG 60bn to cover the costs of further migration-related tasks, other contingency situations and Government measures. Of that amount, HUF 30bn is to be disbursed for measures related to illegal and economic migration. In addition, an ultimate reserve fund of HUF 1bn is also to be set up to enable prompt action in case of even more costs.

The budget amendment also aims to help finance the debt consolidation of MTVA, the umbrella organization for Hungarian public service media, with HUF 47.2bn.

As favourable macro-economic and fiscal trends generate sufficient excess revenues, these measures do not increase the burden on economic stakeholders or Hungarian people: the Government’s fiscal deficit target of 2.4 percent of GDP is still attainable.

(Ministry for National Economy)