Economy
Hungary Orbán wants arguments not political opinion from EU on disputed laws
Speaking to a group of foreign correspondents in English, Orbán said Hungary would continue to finance itself from the market after securing a backstop from the International Monetary Fund (IMF) and European Union.
"Our general approach is that we are open and flexible, we are ready to negotiate all the points but what we need is not political opinion but arguments," he told a small group of reporters.
"And when the arguments on behalf of the EU are convincing that it's better to accept and follow that line, there is no reason not to do that."
Orbán said this year Hungary's budget deficit would be below 3% of GDP without any extraordinary measures, for the first time since it joined the EU in 2004.
The PM noted that market optimism increased and that “the fundamentals of the Hungarian economy proved to be far stronger than many suggested ... or perceived."
The European Commission concluded on Wednesday that "Hungary has not made sufficient progress towards a timely and sustainable correction of its excessive deficit" and is proposing to "move to the next stage of the Excessive Deficit Procedure (EDP).
"The opinion of the European Commission on the EDP is rather promising for us because they criticised only for the past, 2010 and 2011," Orbán said.He added that this was a “clear sign" that the country is “very close" or even has “an agreement on the possible and wished performance of the Hungarian economy and the budget on 2012."
“In 2012, without any extraordinary measures, the budget deficit will be for the first time ever after joining the EU below 3%. I think the EU, the Commission did not deny that fact, which is promising. So I think we are very close to each other to agree on 2012 and even on 2013."
"That generates a better climate on the market and I am sure that after an agreement with the IMF we will be able to stay on the financial market," Orbán added.
In his view, when Hungary proves it can keep funding itself from the market and secures the IMF safety net “then the economy can (go) forward towards stronger economic growth."
"And my best case scenario is that in one month... the main subject relating to the Hungarian economy is not how to finance the economy, but how successful the growth plan could be."
"Our general approach is that we are open and flexible, we are ready to negotiate all the points but what we need is not political opinion but arguments," he told a small group of reporters.
"And when the arguments on behalf of the EU are convincing that it's better to accept and follow that line, there is no reason not to do that."
Orbán said this year Hungary's budget deficit would be below 3% of GDP without any extraordinary measures, for the first time since it joined the EU in 2004.
The PM noted that market optimism increased and that “the fundamentals of the Hungarian economy proved to be far stronger than many suggested ... or perceived."
The European Commission concluded on Wednesday that "Hungary has not made sufficient progress towards a timely and sustainable correction of its excessive deficit" and is proposing to "move to the next stage of the Excessive Deficit Procedure (EDP).
"The opinion of the European Commission on the EDP is rather promising for us because they criticised only for the past, 2010 and 2011," Orbán said.He added that this was a “clear sign" that the country is “very close" or even has “an agreement on the possible and wished performance of the Hungarian economy and the budget on 2012."
“In 2012, without any extraordinary measures, the budget deficit will be for the first time ever after joining the EU below 3%. I think the EU, the Commission did not deny that fact, which is promising. So I think we are very close to each other to agree on 2012 and even on 2013."
"That generates a better climate on the market and I am sure that after an agreement with the IMF we will be able to stay on the financial market," Orbán added.
In his view, when Hungary proves it can keep funding itself from the market and secures the IMF safety net “then the economy can (go) forward towards stronger economic growth."
"And my best case scenario is that in one month... the main subject relating to the Hungarian economy is not how to finance the economy, but how successful the growth plan could be."
