Tag: deficit

The Organisation for Economic Co-operation and Development (OECD) has lowered its forecast for Hungary’s 2012 economic growth. In its latest Economic Outlook published on Tuesday it projects 1.5%... 

(Adds more comments by Varga) Mihály Varga, state secretary soon to take over the task of Hungary’s chief aid negotiator from Tamás Fellegi, will strive to achieve such credit deal with the IMF... 

According to preliminary financial accounts data, Hungary’s general government net lending was equal to -4.4% of GDP in the four quarters to 2012 Q1. General government net lending (HUF -124 billion)... 

Hungary can realistically reach an agreement with the International Monetary Fund (IMF) on a EUR 15 billion financial assistance programme in the autumn, said Mihály Varga, the Prime Minister’s chief... 

(Adds details, charts) Hungary’s economy is to contract by 0.3% in 2012 but grow by 1% next year, the European Commission said in its Spring Forecast on Friday. Brussels see the country’s... 

Hungary’s general government posted HUF 289.3 billion surplus in April, which is by far the largest surplus for the month in at least a decade, the National Economy Ministry announced on Monday.... 

Hungary should secure a 3-year credit facility worth about EUR 15 billion with the International Monetary Fund (IMF), largely the same as the market expects, said Mihály Varga, the Prime Minister’s... 

If Hungary had had an IMF/EU safety net at its disposal since January, its interest expenditure would be nearly HUF 100 billion smaller than if it secures a deal on a financial assistance package only... 

Hungary's new convergence plan is scheduled to be made public at some point between 15th and 30th April, the Economy Ministry told Portfolio.hu. The government is planning to submit the convergence... 

Hungary's Economy Ministry is releasing the umpteenth report on the 2011 budget in a week; the latest version is a detailed English language commentary on this "outstanding achievement" intended for international... 

Hungary’s National Economy Ministry expects further HUF 40 billion worth of spending cuts from the ministries on top of the HUF 30 bn savings package it ordered in February, local news portal origo.hu... 

Hungary’s general government posted a deficit of HUF 230.9 billion in March (on a cash flow basis, excluding local governments), the Economy Ministry has announced on Thursday. With this the first... 

Hungary posted a 4.3% of GDP surplus in its budget in 2011. Adjusting this for private pension funds not taken into consideration in the prognosis and adding the one-offs (VAT recovery, MFB capital hike... 

Hungary’s Economy Minister György Matolcsy has written a letter to European Commission Vice-President Olli Rehn on the results of the 2012 Spring EDP Notification that has been submitted to Eurostat... 

As a result of the transfer of HUF 2,700 billion worth of private pension fund assets and a host of one-off items Hungary’s 2011 budget was extraordinary. The National Economy Ministry called last... 

Hungary’s February budget balance shows a HUF 393.9 billion deficit (excluding local governments), the Economy Ministry has reported on Thursday, confirming the preliminary data that were published... 

After ten years Hungary’s government is executing a central wage hike in the healthcare sector, which will boost state spending by a total of HUF 30 billion in 2012. The National Economy Ministry... 

Hungary will take further measures if necessary to lower its budget deficit if the growth outlook deteriorates, a government official said on Tuesday after OECD presented its latest economic survey on... 

Hungary will be the main subject on the agenda of European Union finance ministers on Tuesday, as the Excessive Deficit Procedure against the country has taken centre stage. Two weeks ago the ministers... 

An analysis by the European Commission services has been published of the budgetary situation in Hungary following the adoption of the Council Decision of 24 January 2012 under the Excessive Procedure...