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26th July, 2018

VOSZ wants labour shift from public to private sector

About 100,000 civil servants and public workers could be redirected to the primary labour market to ease the dire labour shortage in the economy, according to president Ferenc David of employers association VOSZ.

He included in that estimate people working at state-owned companies and government officials.

The private sector is missing an estimated 200,000 employees, he said, while the 1-1.2 million people directly or indirectly employed by the state place a strain on the budget. (napi.hu; portfolio.hu; profitline.hu; hvg.hu)
26th July, 2018

Palinka to cost more after abolition of tax exemptions

The elimination of an exemption from the public health tax for fruit distillates could halve commercial sales of palinka, National Palinka Council chairman Laszlo Mihalyi has warned.

Parliament approved legislation scrapping the exemption from the tax of herbal liqueurs such as Zwack Unicum and fruit brandy palinka, after the European Commission ruled that the measure was against EU rules as it unduly favoured domestic producers.

Parliament also approved amendments to increase the public health tax, commonly referred to as the “chips tax” by 20%.

The new rules would raise the wholesale price of half a litre of palinka from Ft 4,000 to Ft 4,700, Mihalyi said.

He estimated that as much as half of the 2.1 million litres of 50% alcohol-by-volume palinka distilled for commercial sale in Hungary could disappear from the market.

The 22,000 home distilleries registered with the tax office could produce another 5-10 million litres of 50% palinka, he added. (vg.hu)
26th July, 2018

Szijjarto meets business leaders in Indianapolis

Foreign Affairs and Trade Minister Peter Szijjarto was in Indianapolis on Wednesday for meetings with business leaders, including Deborah D. Dewey, president of Indiana-American Water, and Erika Nielsen, head of global affairs at the BorgWarner group, a producer of technology for hybrid and electric vehicles.

in a Wednesday speech, Szijjarto said the automotive and water management companies can boost economic co-operation between Hungary and the state of Indiana and contribute to the continued expansion of the Hungarian auto industry.

He recalled that Hungary and the state of Indiana signed an economic co-operation agreement last year, the first time Hungary had signed such an agreement with any state of the US.

Bilateral trade rose by 96% last year, topping $175 million, and rose by a further 22% in the first quarter of this year.

Szijjarto said he had reached an agreement with trade secretary Jim Schellinger on co-operation in water management and in the car industry. (magyarhirlap.hu; origo.hu)

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