Finance Minister Mihály Varga said European Union member states’ plans to use funding from the Recovery and Resilience Facility (RRF) should be “as transparent and as speedy as possible” after an online meeting with his EU counterparts.
Varga said member states must face “a number of administrative hurdles” in the course of drafting their recovery and resilience plans. He added that Hungary has finished drafting its recovery and resilience plan.
Varga said members states agreed at the Ecofin meeting that EU fiscal regulations should not be reapplied until the average level of economic growth in the EU reaches pre-crisis levels. He added that applying the general escape clause in the Stability and Growth Pact may be justified in 2022, too. He said the Ecofin ministers also discussed the progress of international initiatives on the taxation of the digital economy. Hungary backs G20 efforts to resolve the issue based on broad compromise, while avoiding double taxation, but it continues to oppose any international solutions that would restrict fair tax competition, he added.
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