While the revenues of the general budget rose by eleven percent compared to the previous year, revenues swelled by only 1.5 percent.
As a result of the budget, the flow of economic output is accompanied by an increase in wages. Income tax collection shows a double-digit increase, VAT revenues are also stronger than last year. A similar figure is also illustrated by the data on the development of the economy for the first quarter, where home consumption was the main source of current GDP growth, said Finance Minister Zbynk Stanjura.
The revenues of the general budget were increased by HUF 58 billion compared to a year ago. Both the excise tax (+31.7 billion), as well as the insurance (+19.5 billion) and the pension from the European Union (+4.5 billion) contributed to the increase.
Vbr personal income tax significantly affected the growth of wages and changes received in the consolidated package, such as the proposed letters for the second rate of tax and the right to tax non-monetary benefits. The Ministry of Finance stated at first that a number of changes from the consolidated package will be reflected in the following year.
The loss of pensions from the insurance by twenty billion was caused by the re-introduced sickness allowance of more than 0.6 percent. The positive impact on debt collection should also be outside of the minimum required amount of insurance on the social liability of persons separately provided to others.
For the collection of value added tax, an additional 3.4 billion was collected against the loan, reflecting the increase in household consumption tax and the reduction of tax rates, including the transfer of selected goods and services to the basic VAT rate.
Total marriages between countries increased by 11.1 billion. Compared to last year, expenditure on pensions and transfers to the State Transport Infrastructure Fund increased. The state thus spends more on public health insurance payments per state borrower. The dynamics of income, on the other hand, was reduced by the support provided in the field of energy, which was increased by 18.7 billion, the Ministry of Finance added.
