Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Hungary govt rejected nationalising pension funds-PM

Published 10/18/2010, 09:14 AM
Updated 10/18/2010, 09:16 AM

BUDAPEST, Oct 18 (Reuters) - Hungary's government has considered nationalising private pension funds, but rejected the idea, Prime Minister Viktor Orban said on Monday in parliament in a reply to a proposal by far-right leader Gabor Vona.

"You say because people were forced by the state to enter the (private) system, the state force could be applied to bring them back," Orban said. "I think that proposal is worth considering. We considered it, and we rejected it."

He added that extra taxes to be levied in 2010-2012 on the financial, the energy, the telecoms and the retail sectors are worth seeing through even as they carry a bad message to foreign investors.

He said the measures would be temporary and the economy could grow by an annual 4-6 percent within the next three years.

(Reporting by Marton Dunai and Gergely Szakacs)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.