Oszkó says government determined to follow euro accession steps

Tweet
Comment

Hungary’s government is determined to take the required steps for euro introduction in order to regain investors’ trust, Finance Minister Peter Oszko said on Thursday.

But he said it was too soon to talk of a target date for adopting the single currency.

“The tax cuts to be started this year and to be continued next year are unprecedented in the past 20 years,” Oszko told a conference organised by economic think-tank GKI.

Already in 2010, employees will get to keep an average 54 percent of their gross income instead of the current 46 percent, he added.

Structural change will take effect in the long term, Oszko said. The reform of the pension system will result in reducing pension spending from 10.5 percent of gross domestic product to 8.5 percent in 2015, he added.

Comments

The All Hungary Media Group is firmly committed to freedom of expression and therefore applies a mostly "hands off" approach to comment moderation. Comments left by readers represent their own views and do not necessarily reflect the opinions or beliefs of the staff, editors or owner of the All Hungary Media Group, who nonetheless reserve the right to remove comments that are off-topic or which moderators consider to constitute "hate speech." Also note that in order to prevent spam we generally close entries off to comments several days after publication.

Comments are closed.