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Finland’s government proposals may widen income gap: THL

HELSINKI: Government programme proposals would further increase the differences in income and undermine basic social security, assessed the adequacy of basic security assessment team of the Health and Welfare (THL). THL’s Social Politics’ Research Professor Pasi Moisio said in a journal that the proposals would in many respects negate earlier strengthening in basic security made by the previous governments during ... Read More »

IBEC says govt must compete strongly with UK

DUBLIN: IBEC is warning the Government that Ireland risks being outmanoeuvred in business by the UK if our tax system is not reformed. The organisation said the coalition needed to “end discrimination against the self-employed, introduce meaningful capital gains tax relief for entrepreneurs and enhance investment schemes”. As IBEC launches its pre-Budget submission, CEO Danny McCoy said we needed to ... Read More »

IBEC says Government must compete strongly with UK

DUBLIN: IBEC is warning the Government that Ireland risks being outmanoeuvred in business by the UK if our tax system is not reformed. The organisation said the coalition needed to “end discrimination against the self-employed, introduce meaningful capital gains tax relief for entrepreneurs and enhance investment schemes”. As IBEC launches its pre-Budget submission, CEO Danny McCoy said we needed to ... Read More »

Government re-appoints Carlos Costa as Bank of Portugal governor

LISBON: Portugal’s right-of-centre government has approved the appointment of Carlos Costa for a second five-year term as governor of the Bank of Portugal. At a news conference after the day’s cabinet meeting, the cabinet office minister, Luís Marques Guedes, noted that the appointment followed hearings in parliament and the report that resulted from that. Costa was first appointed the bank’s ... Read More »

Government re-appoints Carlos Costa as Bank of Portugal governor

LISBON: Portugal’s right-of-centre government has approved the appointment of Carlos Costa for a second five-year term as governor of the Bank of Portugal. At a news conference after the day’s cabinet meeting, the cabinet office minister, Luís Marques Guedes, noted that the appointment followed hearings in parliament and the report that resulted from that. Costa was first appointed the bank’s ... Read More »

MNB puts general government deficit at 2.2% of GDP for 2016

BUDAPEST: Hungary’s general government deficit, according to European Union accounting rules, could reach 2.2% of GDP next year, 0.2 percentage points over the target in the budget, the National Bank of Hungary (MNB) said in its June Inflation Report released today. Revenue “from other asset sales and utilization” is targeted at HUF 133 bln in the budget, but the MNB ... Read More »

Greece government confident despite backlash over debt deal

ATHENS: Greece’s leftwing government expressed confidence that parliament would approve a debt deal with lenders, despite an angry reaction from some of its own lawmakers who accused it of caving in to pressure for more austerity. Concessions offered by Prime Minister Alexis Tsipras, including hikes to tax and pension contributions, garnered a cautious welcome from euro zone leaders but triggered ... Read More »

Greece government confident despite backlash over debt deal

ATHENS: Greece’s leftwing government expressed confidence that parliament would approve a debt deal with lenders, despite an angry reaction from some of its own lawmakers who accused it of caving in to pressure for more austerity. Concessions offered by Prime Minister Alexis Tsipras, including hikes to tax and pension contributions, garnered a cautious welcome from euro zone leaders but triggered ... Read More »

Hungary’s General government deficit reaches HUF 511.1b in May, about 58% of full-year target

BUDAPEST: Hungaryʼs cashflow-based general government deficit, excluding local councils, reached HUF 511.1 bln at the end of May, the National Economy Ministry said today. The deficit reached 58.3% of the HUF 877.4 bln full-year target. The ministry noted that the deficit had reached HUF 681.7 bln at the end of May last year. The central budget deficit came to HUF ... Read More »

Hungarian Government approves food industry development strategy, set target of 7-10% increase

BUDAPEST: Hungaryʼs government approved a mid- and long-term development strategy for the countryʼs food industry, which aims to raise the sectorʼs profit margin from break-even to 4-5% by 2020, Hungary’s Ministry of Agriculture said yesterday. It targets a 7-10% increase of domestic sales and a 30-40% rise in exports,  state secretary for supermarket oversight Robert Zsigó added. Some HUF 300 ... Read More »

South African government allocates R22m budget for Eskom inquiry

CAPE TOWN:  South African government has been allocated R22 million for multi-national law firm Denton’s three-month inquiry into Eskom’s financial woes, Public Enterprises Minister Lynne Brown said on Monday. “The costs have been capped at R22 million,” the minister said in response to a written parliamentary question by the Freedom Front Plus. In reply to a futher question on the ... Read More »

South African government allocates R22m budget for Eskom inquiry

CAPE TOWN:  South African government has been allocated R22 million for multi-national law firm Denton’s three-month inquiry into Eskom’s financial woes, Public Enterprises Minister Lynne Brown said on Monday. “The costs have been capped at R22 million,” the minister said in response to a written parliamentary question by the Freedom Front Plus. In reply to a futher question on the ... Read More »

Hungary’s general Government deficit may rise 2.2% of GDP in 2016: MNB

BUDAPEST: Hungaryʼs general government deficit, according to European Union accounting rules, could reach 2.2% of GDP next year, over the 2.0% target, the National Bank of Hungary (MNB) said in an assessment of the governmentʼs budget bill released today. The MNB said primary fiscal revenue could fall short of the target by the equivalent of 0.7% of GDP, raising the ... Read More »

Hungary’s general Government deficit may rise 2.2% of GDP in 2016: MNB

BUSDAPEST: Hungaryʼs general government deficit, according to European Union accounting rules, could reach 2.2% of GDP next year, over the 2.0% target, the National Bank of Hungary (MNB) said in an assessment of the governmentʼs budget bill released today. The MNB said primary fiscal revenue could fall short of the target by the equivalent of 0.7% of GDP, raising the ... Read More »

Hungarian government expects 3% GDP growth in 2019

BUDAPEST: The Hungarian government expects GDP to grow by 3% in 2019, according to a medium-term outlook supplementing the 2016 budget bill submitted to Parliament on Friday. The outlook is calculated with an inflation rate of 3% and a budget deficit of 1.5% of GDP in 2019. The document reveals that the corporate tax will remain a multi-bracket tax between ... Read More »

Hungarian government expects 3% GDP growth in 2019

BUDAPEST: The Hungarian government expects GDP to grow by 3% in 2019, according to a medium-term outlook supplementing the 2016 budget bill submitted to Parliament on Friday. The outlook is calculated with an inflation rate of 3% and a budget deficit of 1.5% of GDP in 2019. The document reveals that the corporate tax will remain a multi-bracket tax between ... Read More »

General government deficit comes close to 70% of full-year target in April 2015

BUDAPEST: Hungaryʼs cashflow-based general government deficit, excluding local councils, reached HUF 609.8 bln at the end of April, the National Economy Ministry said in a second reading of data yesterday. The deficit reached 69.5% of the HUF 877.4 bln full-year target, the ministry confirmed in the report. The ministry noted that the deficit had reached HUF 951.2 bln at the ... Read More »

General government deficit comes close to 70% of full-year target in April 2015

BUDAPEST: Hungaryʼs cashflow-based general government deficit, excluding local councils, reached HUF 609.8 bln at the end of April, the National Economy Ministry said in a second reading of data yesterday. The deficit reached 69.5% of the HUF 877.4 bln full-year target, the ministry confirmed in the report. The ministry noted that the deficit had reached HUF 951.2 bln at the ... Read More »

General government deficit comes close to 70% of full-year target in April 2015

BUDAPEST: Hungaryʼs cashflow-based general government deficit, excluding local councils, reached HUF 609.8 billion at the end of April, the National Economy Ministry said in a second reading of data yesterday. The deficit reached 69.5% of the HUF 877.4 billion full-year target, the ministry confirmed in the report. The ministry noted that the deficit had reached HUF 951.2 bln at the ... Read More »

General government deficit comes close to 70% of full-year target in April 2015

BUDAPEST: Hungaryʼs cashflow-based general government deficit, excluding local councils, reached HUF 609.8 billion at the end of April, the National Economy Ministry said in a second reading of data yesterday. The deficit reached 69.5% of the HUF 877.4 billion full-year target, the ministry confirmed in the report. The ministry noted that the deficit had reached HUF 951.2 bln at the ... Read More »