Hungarian Government to Bring 2011 Deficit below 3pct – Eying Euro Adoption by 2015

Hungary will probably meet the Maastricht criteria and enter the euro-zone by 2015, said Mihaly Varga, the prime minister’s chief in a TV interview on Monday.

To achieve this goal, he added, the government should take on fiscal discipline and improve the country’s credit ratings in the medium term. However, Varga reaffirmed that a financial tax would be necessary to keep government deficit at bay within the next three years.
The government’s commitment to bringing down the budget deficit below 3 pct in 2011 was officially announced by Gyorgy Matolcsy, minister of the national economy, and most recently confirmed by Prime Minister Viktor Orban in a speech delivered at the first autumn debate of the Hungarian Parliament on Monday.  


News Monitoring