Parliament approved an amendment to the 2013 budget that raises the deficit by HUF 74.4bn to HUF 1,125.2bn, because of higher spending on the integration of the country’s savings cooperatives and a repayment to oil and gas company MOL. The amendment was passed with a vote of 215 ayes and 42 nays. The amendment raises the allocation for savings cooperative integrator SZHISZ by about HUF 35.5bn from HUF 100bn to cover the acquisition of a stake in postal company Magyar Posta. The government recently issued a decree on making preparations for the sale of the 25pc-minus-one-vote stake in Magyar Posta to SZHISZ. The National Development Ministry said the transaction would establish cross-ownership that guarantees cooperation between savings cooperatives and Magyar Posta. The government-initiated integration of Hungary’s savings cooperatives aims to create synergy and allow savings cooperatives to meet stricter European Union capital adequacy requirements. Legislation on the integration was approved by Parliament in July. The amendment approved by Parliament on Wednesday also allocates HUF 35.3bn to repay MOL because of a European Union Court of Justice decision overturning a resolution by the European Commission. The Court of Justice in November annulled a 2010 resolution by the EC ordering Hungary to recover more than HUF 30bn in illegal state aid to MOL. The court said there was no data to show MOL received favourable treatment compared to its competitors with regard to mining royalties. The EC ordered MOL to recover the aid in June 2010. It found in an investigation that an agreement between MOL and the government in 2005 fixed mining royalties for most of the company’s fields in Hungary until 2020. Although royalties were raised by an amendment to the Mining Act in early 2008, MOL continued to pay the same royalties agreed on earlier, the Commission said.