Business
New Hungarian government to retain finance, economic ministers
“Retaining Veres is unlikely to inspire confidence in the markets about the forthcoming tightening measures, but the key is exactly what those measures are," István Zsoldos, analyst at Goldman Sachs has commented on Thursday.
For this year, Zsoldos expects the fiscal adjustment package to contain the usual cost cutting attempts in state administration. For next year, he projects tax increases, but said “these are not going to be enough to fulfil the Maastricht budget criterion or stop the debt to GDP ratio from increasing."
The Socialist Party (MSZP) and the Free Democrats (SZDSZ) will continue talks on Thursday on the government list and the programme and will finalise both in the following three days.
“We have no reason to replace János Veres", an unnamed source told index.hu. György Surányi , twice central bank (NBH) Governor (1990-1991 and 1995-2001) and the head of CEE at Banca Intesa Group, the owner of Hungary's CIB Bank, reportedly refused the finance minister's post. He is one of the most potential aspirants for the NBH top seat, according to speculations. The other person best fit for the position is said to be Ferenc Karvalits , who is Board member at both investment, consulting and asset management group Wallis and architectural software maker Graphisoft, as well as Chairman of Land Credit and Mortgage Bank (FHB).
The portal said the SZDSZ would be allowed to appoint three ministers, with János Kóka remaining Minister of Economic Affairs. The other two ministries will be healthcare and either the foreign ministry or the ministry for environmental protection. A source told index.hu that the party was still fighting for the top education seat but added they had very little chance to obtain it.
According to the report, there will be no change at the top of the Ministry of Internal Affairs (Mónika Lamperth ), the Justice Ministry (József Petrétei ) and the Ministry of Agriculture (József Gráf ).
Minister of Education, Bálint Magyar (SZDSZ) is to be replaced by MSZP Chairman István Hiller . The Prime Minister's Office is to be taken over byGyörgy Szilvásy , current cabinet chief and long-time friend and company associate of PM Ferenc Gyurcsány. Current PMO chief Péter Kiss will be the head of the Ministry of Labour and Social Affairs, and he will also assume the tasks of Kinga Göncz , current minister of youth, social and family affairs and equal rights.
Minister of Defense Ferenc Juhász is to give his position to Imre Iváncsik , current political secretary of state.
For this year, Zsoldos expects the fiscal adjustment package to contain the usual cost cutting attempts in state administration. For next year, he projects tax increases, but said “these are not going to be enough to fulfil the Maastricht budget criterion or stop the debt to GDP ratio from increasing."
The Socialist Party (MSZP) and the Free Democrats (SZDSZ) will continue talks on Thursday on the government list and the programme and will finalise both in the following three days.
“We have no reason to replace János Veres", an unnamed source told index.hu. György Surányi , twice central bank (NBH) Governor (1990-1991 and 1995-2001) and the head of CEE at Banca Intesa Group, the owner of Hungary's CIB Bank, reportedly refused the finance minister's post. He is one of the most potential aspirants for the NBH top seat, according to speculations. The other person best fit for the position is said to be Ferenc Karvalits , who is Board member at both investment, consulting and asset management group Wallis and architectural software maker Graphisoft, as well as Chairman of Land Credit and Mortgage Bank (FHB).
The portal said the SZDSZ would be allowed to appoint three ministers, with János Kóka remaining Minister of Economic Affairs. The other two ministries will be healthcare and either the foreign ministry or the ministry for environmental protection. A source told index.hu that the party was still fighting for the top education seat but added they had very little chance to obtain it.
According to the report, there will be no change at the top of the Ministry of Internal Affairs (Mónika Lamperth ), the Justice Ministry (József Petrétei ) and the Ministry of Agriculture (József Gráf ).
Minister of Education, Bálint Magyar (SZDSZ) is to be replaced by MSZP Chairman István Hiller . The Prime Minister's Office is to be taken over byGyörgy Szilvásy , current cabinet chief and long-time friend and company associate of PM Ferenc Gyurcsány. Current PMO chief Péter Kiss will be the head of the Ministry of Labour and Social Affairs, and he will also assume the tasks of Kinga Göncz , current minister of youth, social and family affairs and equal rights.
Minister of Defense Ferenc Juhász is to give his position to Imre Iváncsik , current political secretary of state.
