Economy
Hungary's general reserves ebb close to limit over flood protection
The government has used up another cc. HUF 1.5 bn from general budget reserves recently, the paper said. HUF 500 m of that were spent before the first round of elections (11 April) and HUF 930 m were earmarked for flood protection under a resolution approved yesterday. The Pension Insurance Fund received HUF 400 m last week for pension hike on equity grounds, while the crisis fund of the Ministry of Social Affairs was boosted by HUF 100 m.
Parliament had approved HUF 57.2 bn general budget serves and law stipulates that no more than 40% of that may be spent by the end of June. This equals HUF 22.9 bn, and the cabinet has already spent HUF 17.3 bn, a lot quicker than in the same period of 2009. The government allotted HUF 2 bn for flood and inland water protection this year from general reserves.
Parliament had approved HUF 57.2 bn general budget serves and law stipulates that no more than 40% of that may be spent by the end of June. This equals HUF 22.9 bn, and the cabinet has already spent HUF 17.3 bn, a lot quicker than in the same period of 2009. The government allotted HUF 2 bn for flood and inland water protection this year from general reserves.
