Ministry works to keep budget freeze from affecting farmers

The frozen amount is part of a HUF 250bn central budget stability reserve established by the government in February. The ministry has not frozen European Union funding, and the freeze will have a minimal effect on current expenditures, such as animal health spending which will fall by just 4pc, Mr Simon said. The freeze will affect rather spending on keeping up institutions, and this will be countered by creating incentives to raise revenue at these institutions and by putting off investments, he added. The decree on the stability reserve freezes HUF 15,8bn of the budget of the Public Administration and Justice Ministry, HUF 18.7bn at the Rural Development Ministry, HUF 26.3bn at the Defence Ministry, HUF 35,0bn at the Interior Ministry, HUF 5,9bn at the National Economy Ministry, HUF 21,1bn at the National Development Ministry, HUF 7,6bn at the Foreign Ministry and HUF 39,2bn at the National Resources Ministry. A further HUF 13,3bn is to be frozen at the National Tax and Excise Office, almost HUF 1bn at the Central Statistics Office, HUF 1,1bn at state pension institutions and HUF 1,1bn at state health insurance institutions. Some HUF 600m allocated for European Union-supported developments is to be frozen as well. National Economy Minister Gyorgy Matolcsy proposed setting up the HUF 250bn fund in early February as a buffer against external risks.

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