The Hungarian oil and gas group MOL announced that it has paid mining fees to the state amounting to 35.8 billion forints (177 million dollars), based on the relevant decision of the European Commission.
"The European Commission announced this decision on June 9. MOL has reserved funds to pay the total amount of the fee in the second quarter, and the money has been transferred to the Hungarian government in recent days," MOL stated on Friday. Previously, Hungarian Minister of Economy Gyorgy Matolcsy said that Hungary may need funds from the corporate sector, including the leading energy company MOL, to achieve the targeted budget deficit for this year. The country is on track to achieve the planned budget deficit of 3.8 percent of GDP this year and to reduce it below three percent next year, the minister told reporters on Friday. In order for Budapest to achieve the targeted deficit level this year, a one-time payment from MOL, advances from certain state companies, and revenues from additional sales of carbon dioxide emission permits are needed, Matolcsy said.
The minister did not clearly indicate whether he was referring to the mining fees that MOL has already paid into the budget or to some new charge. The Ministry of Economy did not comment on this information on Friday. Matolcsy only stated that additional funds from companies would be added to the bank tax that compensates for the budget deficit. "As for the deficit, the vast majority will be covered by the tax on financial companies," the minister said. "However, we may need additional funds, 35 billion forints from MOL and additional advances from state companies." Hungarian media reported that the state is considering introducing a special tax on telecommunications and energy companies to increase budget revenues. (H)
