Hungarian government abandons central bank transaction tax

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The Hungarian government will scrap its controversial plans to introduce a tax on the transactions of the National Bank of Hungary (NBH).

The government had originally planned to apply a 0.1% tax to all financial transactions, including those by the central bank, as part of a package of fiscal consolidation measures aimed at bringing the government's budget deficit below 3% of GDP.

However, at a press conference today (October 5), minister for national economy György Matolcsy said although the

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