The bank tax will be cut by HUF 20 billion next year, National Economy Minister Mihály Varga said at the annual general meering of OTP.
The closure of the sale of state-owned Budapest Bank is expected by the end of the year and the purchase of a 15% stake in Erste Bank by June 30.
The volume of retail loans rose 34% over 2014 and 2015 and bank's lending to households rose to HUF 690 billion last year. The government strives to stimulate electonic payment schemes, increase POS terminals to reduce the amount of cash in circulatin, which went up sharply after the government introduced the transacton tax on electronic transfers and cash withdrawals.
Mr. Varga laid out four main areas in economic policy, such as keeping the budget deficit in check, including a zero percent deficit for the operation of the state, increasing salaries for teachers and nurses from extra revenues, reducing taxes on fund large-scale investment projects in health energy and culural sectors.
