A year ago, the government would have restricted the use of cash, but now there is talk of enshrining the use of cash in the constitution.

“If you think it is worth raising this matter to the constitutional level, we will not be an obstacle to it,” Viktor Orbán, representative of May Hazanek, answered on Tuesday at the opening of the spring session of Parliament to the proposal that the right to use cash should be included in the Basic Law.

Think about what we would do without money. We would be poorer for such special moments as Viktor Orbán counting money, who, according to his press boss, was on his way to attend a special program on Bakáts utca in Budapest, or Péter Szijjártó buying shoes worth 75,000 in a live broadcast, where he let everyone know that he loves… Always pay in cash. Finally, the Minister in charge of the Prime Minister's Office, Gergely Gulyas, summed up the payment habits of government members: “Maybe they mostly prefer to pay in cash. I also prefer to pay in cash rather than by card, but the other thing also happens.”

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This is an interesting turn of events, especially considering the government wanted less money a year ago. Last April, Andras Talay, Secretary of State at the Ministry of Finance, justified all of this by saying that “most of the abuses are carried out in cash, as the bank transfer has an effect and can be followed, while the amounts withdrawn in cash can be transferred.” freely between persons, companies or legal entities.”

Previous research by the central bank suggests that the use of cash costs taxpayers 100 billion Hungarian forints annually.

“The production of banknotes and coins itself amounts to 10 billion. And 90 billion for transporting, counting and guarding the money.” from right to left Adam Turzo is a Portfolio.hu analyst and reporter.

In Hungary, nearly 20% of workers and about 40% of pensioners request and receive their income in cash, according to the latest central bank research in 2020.

This question was also recently discussed on hvg.hu's finance podcast, Kasszakulcs, where Mercédesz Gyükeri and Iván Stojczev looked at whether some people are legitimately concerned that we will lose the possibility of paying with cash and what the advantages and disadvantages of cashless payment society are.

Can they really ban cash? – Cash key number 2

Why are we talking about this at all? What is the role of cash in the economy? What are the advantages and disadvantages of cashless societies? We looked into this in our latest financial podcast.

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