FinMin Says ”We Don't Need IMF Money Any More,” PM Says ”We Must Grow Faster than the EU”

"…My expectation is that since Hungary is targeting the same track for the future, we won't need financial help," said Finance Minister Péter Oszkó to the Financial Times in an interview.


International news sources report on Hungarian business, government and economy.

Merrill Lynch: Hungary Could Enter ERM-II in 2011

ML-BofA believes that Hungary could be the pack leader in the group of Poland, The Czech Republic and Romania to enter ERM-II exchange rate mechanism, and finally introduce the euro in 2014.

The Monetary Council Reduced the Central Bank Base Rate to 6.00 Pct

The Monetary Council of the Magyar Nemzeti Bank reduced the central bank base rate by 25 basis points to 6.00 pct, in effect from 26 January 2010.

BoA-Lynch: “Hungary – World’s Fiscal Leader”

London-based Bank of America-Merrill Lynch has released its monthly global emerging markets report and dedicated a whole section to the Hungarian “draconian” procyclical fiscal tightening during the recent years.

Government to Spend HUF 2 Billion to Create and Preserve Jobs in 2010

The government will spend HUF 2 billion (EUR 7.49 million) in Labor Market Fund resources on job creation and job preservation in 2010, Ministry of Social and Labor Affairs State Secretary Gábor Simon said.

Seven Members of the Monetary Council Voted to Reduce the Base Rate to 6.25 Pct

On December 21, seven members of the National Bank of Hungary's (NBH) Monetary Council, voted to reduce the base rate to 6.25 pct: Péter Bihari, Vilmos Bihari, Ilona Hardy, Ferenc Karvalits, Júlia Király, Judit Neményi, András Simor. One member, Tamás Bánfi, voted to reduce the base rate to 6.00.
Council members agreed that previous decisions on interest rate and comments on interest rate policy had made it obvious that, in view of the outlook for inflation, it was justified to continuously reduce interest rates, which the MNB was implementing gradually.

Modern Rainwater Drainage System Developed in Makad from EU Funding

A modern rainwater drainage system and outlet lake has been developed in Makad within the framework of New Hungary Development Plan.


International news sources report on Hungarian business, economy and finances.

Projects Were Partially Handed Over within the Framework of the Pecs 2010 ECC Program

Two projects were partially handed over on December 18 within the framework of the Pécs 2010 European Capital of Culture (ECC) program.

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