Government to significantly cut 25% top VAT rate?
The government is considering lowering the 25% top rate of VAT, prime minister Ferenc Gyurcsany said at an event organized by the Investment Council. Gyurcsany, however, did not reveal a possible new rate.
GKI confidence index hits record low in May
The composite confidence index of economic research institute GKI fell to -21.5 points in May, the lowest level in the index's ten-year history.
Government to cut spending by HUF 125 billion by freezing reserves
The government decided at its Wednesday meeting to carry out savings of HUF 125 billion (USD 608 million) in the budget this year, by not allowing the spending of this amount from the budget's reserves, finance ministry state secretary Tamas Katona announced.
Real wages rise 4.3% in April
Wages in Hungary rose by 6.5% in gross and 8.4% in net terms in April 2005 when compared to the same month last year, according to figures released by the Central Statistical Office (KSH). Real wage growth was 4.3% in April.
PC penetration 90% among businesses, says GKI
PC penetration at firms employing more than five people in Hungary was 90% in March 2005, according to a study conducted by research firm GKI, in cooperation with T-Mobile and Sun Microsystems.
