Hungary’s Nagy Rejects Hiking Bank Tax, Seeks to Shield Lending

Hungarian Economy Development Minister Marton Nagy says he’s against further raising taxes on banks to plug budget holes, as that would hurt the chances of an economic recovery from a yearlong recession.

• Nagy comments in interview a day after Finance Minister Mihaly Varga said the government may consider hiking a bank tax, cutting interest-rate subsidies and delaying defense procurements to stabilize the budget
  • EARLIER: Hungary Finance Chief Mulls Bank Tax Hike on Budget Pressure (1)
• Hungary may unlock at least HUF500b ($1.4b) of European Union funds this year
  • NOTE: The EU has suspended more than $30b of funds earmarked for ...