December 23rd, 2009

Spokesman says Fidesz to follow strict budget despite talk of bigger deficit

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Fidesz will not allow the budget deficit to reach 7-10% of GDP next year, former economy minister György Matolcsy told a Tuesday press conference.

Fidesz chairman Viktor Orbán and deputy chairman Mihály Varga have said that the 2010 budget deficit could reach 7-7.5% of GDP instead of the 3.8% target.

Speaking at a press conference with former central bank governor and Fidesz-era finance minister Zsigmond Járai, Matolcsy said none of the politicians want a 7-10% deficit, but want Hungary to adopt the euro, which requires that the deficit be kept under 3%.

Matolcsy recalled that Fidesz was able to follow a strict budget policy while in power, showing that it has the will and ability to implement a disciplined budget policy.

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