PM: Recession Could Last as Long as Year And a Half

The global financial crisis could drag Hungary into recession for as long as a year and a half, Prime Minister Ferenc Gyurcsany told a meeting of the National Development Council in Parliament on November 19th 2008.


Traditional economic stimulus measures cannot be used for the current crisis, though the appropriate tools of development policy and monetary policy are not lacking, Mr Gyurcsany told the council. Quick and decisive action is of primary importance, he added.

News Monitoring