Hungarian Assets Drop as Orban Targets Banks to Fix Budget (3)

Hungary’s stocks and currency fell after Prime Minister Viktor Orban’s government again resorted to its tactic of imposing special taxes on banks and other industries to plug gaps in its budget.

It plans to keep current levels of windfall taxes on banks, energy and foreign-owned companies, despite earlier promises to lower them, Cabinet Minister Gergely Gulyas said on Monday. He said the measures would net the budget an additional 400 billion forint ($1.1 billion).

The government expects 85 billion forint in additional revenue this year after tightening rules on deductions from a bank tax and raising other levies on ...