TNBiz (TNBiz)
Finance  |  September 16, 2010 08:16:01

Matolcsy: Hungary austerity measures need


Mediafax

BUDAPEST (MEDIAFAX) - Hungary to next year to reduce the budget deficit of gross domestic product (GDP), the program does not need to implement austerity measures, said the Hungarian finance minister Gyorgy Matolcsy. Informed the agency on Thursday said.

Matolcsy said that the location of the government austerity program will focus on new bank tax, which would bring the country's budget additional funds to meet budget targets. The introduction of bank tax would be according to some analysts, could undermine the financial stability of the country and cool the pace of economic recovery.

The International Monetary Fund after Hungary požadoval program start saving measures worth 300 billion forints (26 billion dollars), which was one of the conditions to create a new credit lines. Negotiations between Hungary and the IMF has been unsuccessfully completed in July.

Vojtech Kristen, kristen@mediafax.cz

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