“The Government’s goal is for it to be increasingly worthwhile to live, work and raise a family in Hungary”, Minister of Finance Mihály Varga declared at the Fidelitas Summer University. “This is why next year’s budget simultaneously provides a framework for the Family Protection Action Plan and the Economy Protection Action Plan, and for the preservation of Hungary’s security”, the Minister emphasised.

Mr. Varga drew attention to the fact that the Government will continue to practice a strict and disciplined fiscal policy next year, while spending an additional 224 billion forints (EUR 693 million) on supporting families and assisting the private sector with some 500 billion forints (EUR 1.55 billion) in funding via the Economy Protection Action Plan. As he explained, the economy grew by 5.3 percent during the first quarter of this year, sovereign debt is decreasing year-by-year, employment is continuously increasing, and thanks to wage increases in excess of 10 percent more and more Hungarians who have gone abroad to work are now returning home.

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The Minister also spoke about the fact that the Government has developed the seven-point Family protection Action Plan in the interests of supporting families. Within the framework of the programme, amongst others, the Home Creation Scheme for families is being expanded, and the “baby shower” subsidy, the childcare fee for grandparents and the car purchasing subsidy for large families are being introduced.

With relation to measures aimed at preserving security, the Minister said that thanks to improved public safety and the increased protection of the country’s borders, Hungary was one of the 20 safest countries in the world in 2018.

(Ministry of Finance)