Thanks to the budget of tax reductions and housing benefits, everyone will be able to take a step forward next year.

Excess funds will be allocated not only to certain specific sectors, but also to projects and developments serving a variety of social goals. EU funds worth HUF 2,240 billion and local funds to the value of HUF 1,640 billion will be available for these purposes in 2017.

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The Hungarian reforms are working: it is a particular priority of the Government to ensure that every Hungarian individual may personally experience the benefits of the reforms. The VAT reduction and the extension of the available tax benefits will leave more money with Hungarian families, and the most significant housing benefits programme of all time will genuinely help people acquire their own homes. Additionally, all sectors may expect considerable excess funding next year compared with this year.

The implementation of these projects and developments is made possible by the results achieved to date in the wake of Hungary’s economic policy and the performance of the economy in combination. Thanks to this, it will be possible to continue during the course of 2017 projects and developments started earlier as well as to launch new ones which will serve the whole of society, will genuinely promote the reinforcement of a civic lifestyle, the preservation of health and the useful spending of leisure time, the better appreciation of our national cultural values, transport infrastructure developments, the development of educational, cultural and social institutions, the renewal of Hungarian cities, the eventual convergence of the Hungarian provinces, and the development of a competitive entrepreneurial environment.

In addition to their social benefits, the various projects will contribute to the further expansion of employment, the reinforcement of local businesses, and consequently to the growth of the Hungarian economy. The favourable conditions which are required to achieve these goals are created by the Government’s consistent and predictable fiscal policy, in combination with a transparent regulatory environment as well as the available benefits and fiscal incentives.

The uncut version of the video recordings made at the event can be downloaded in the Press Room.

(Ministry forNational Economy)