The government will recommend a 3.5% inflation target for the end of 2006, Finance Minister Tibor Draskovics announced
Published:
1 November 2004 y., Monday
The Hungarian government will recommend a 3.5% inflation target for the end of 2006, Finance Minister Tibor Draskovics announced. Draskovics said annual inflation will be 6.8%–6.9% for 2004, and will continue to slow in 2005 to a yearly 4.5%. National Bank (MNB) President Zsigmond Jбrai said the 3.5% target for 2006 is feasible provided fiscal policy remains strict.
52.6% of revenue in the 2005 budget carries medium or high risk, the State Audit Office (БSz) found. The office said the government’s target for GDP growth of 4% in 2005 is realistic, but not without risk, and added that the general government deficit target of 4.7% of GDP is riskier. The office also said the 2005 budget is not detailed enough in its description of expenditures related to public-private partnerships (PPPs).
The government plans to present an alternative to an БSz proposal that would force it to make a new budget if the original’s targets are exceeded by 2.5%. The government proposes allowing a 5% overshoot of budget targets. Forcing the government to create a supplementary budget would mean the new budget has to be approved by Parliament.
The government issued Ђ1 billion in eurobonds, State Debt Management Rt (БKK) announced, saying it would use the issue to refinance debts maturing in 2004. The terms of the issue are the best of all government-issued eurobonds, the БKK press release stated. They mature in seven years, and pay annual fixed interest of 3.625%.
The government earmarked Ft 17 billion (Ђ69 million) for housing subsidies in next year’s budget. The budget includes a Ft 3.4 billion allocation for a new type of rent subsidy aimed at young people with few financial resources. Another Ft 4 billion is set aside for a fund providing state guarantees for housing loans.
Šaltinis:
bbj.hu
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level.
more »
Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15.
more »
World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat.
more »
These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB).
more »
The European Investment Bank (EIB) today signed its first loan agreement with Armenia.
more »
Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area.
more »
The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS).
more »
The European Commission today approved a new financial support package of €135 million for Morocco.
more »
The European Commission is allocating an extra €10 million in humanitarian aid for Liberia.
more »