PM says lower budget deficits to make Hungary less vulnerable

Tweet
Comment

Hungary must keep its budget deficit down to make the country less vulnerable to movements on global debt markets, Prime Minister Gordon Bajnai said at a meeting of the Economic and Social Council in Parliament on Friday.

Developed economies with big deficits now are expected to soak up liquidity after the crisis has passed, leaving less for developed, smaller economies, he noted.

Revenue of the general government is expected to bottom out only next year, which justifies the government’s programme to cut spending by more than HUF 1,000bn in the two years combined, Mr Bajnai said. Hungary targets a 3.8pc-of-GDP general government deficit in 2010, well under the 7.3pc average for EU member states.

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.