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December 01
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Hungary will allow companies to pay municipal corporate taxes in euros or dollars starting Jan. 1, according to a government decree.

Prime Minister Viktor Orban's government announced the plan in July, which analysts say could boost Hungary's foreign currency reserves to help pay for the high cost of energy imports, Reuters reports.

Hungary imports most of its gas and oil from Russia, and soaring prices since the start of the war in Ukraine have widened its trade balance and current account deficit.

Budapest is also still involved in a dispute with Brussels over billions of euros in EU funds. The government has promised to fulfill all its obligations to unblock the funding, and last week it submitted an anti-corruption package to parliament.

Hungary's current account deficit in the second quarter was 2.63 billion euros, higher than analysts' forecast of 2.1 billion euros, according to data last week.

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