Hungarian parliament accepts cost cutting changes to budget bill

Business Materials 25 November 2008 16:21 (UTC +04:00)

The Hungarian parliament voted on Tuesday to accept the government's proposed changes to the 2009 budget bill.

The latest budget proposal includes a cap on year-end bonus pension payments and other measures aimed at getting the shaky Hungarian economy onto a firmer footing, reported dpa .

The latest adjustments to the 2009 budget bill, which is expected to be voted through on December 15 were passed by 211 votes to 169.

As it announced on Monday, the liberal Alliance of Free Democrats supported the minority Hungarian Socialist Party's budget proposals, giving the government the necessary majority.

The government aims to slash Hungary's budget deficit in 2009, with planned expenditure of 8.934 trillion forints (43.9 billion dollars) against revenue of 8.27 trillion forints, for a deficit of 664 billion forints.