Varga: Hungary's 2012 budget still focused on stabilization

In his response to Balázs Romhányi's presentation, State Secretary of the Prime Minister's Office Mihály Varga said Europe will have to gear up for an extended crisis from the impacts of which Hungary cannot disengage itself. For this reason, the government's hands are tied, and additional restraints were inherited from the previous government, Varga argued.

The first phase of the current government cycle was about emergency measures, the second phase is a phase of structural changes, while the years 2013 and 2014 could be, as dramatic growth is unlikely, at least those of fiscal predictability and stability, Varga said.

"It is little wonder that it takes several years to stabilize the budget. The 2012 budget is subordinated to this goal."

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