Hungary’s planned windfall tax is the least harmful way of raising revenue needed to consolidate the budget that’s been effectively cut off from European Union funding, a key government official said.
The tax, announced this week, is “extremely targeted” and seeks to add revenue of more than 800 billion forint ($2.2 billion) this year and in 2023, mostly to cover household utility subsidies as costs have soared after Russia attacked Ukraine, Economic Development Minister Marton Nagy said in an interview late Thursday.
