At its meeting yesterday the cabinet decided that Hungary will introduce the Euro from January 2008
Published:
18 July 2003 y., Friday
At its meeting yesterday the cabinet decided that Hungary will introduce the Euro from January 2008 and join the ERM-2 system as early as possible from the date of EU accession on May 1, 2004, Prime Minister Peter Medgyessy announced.
The government also approved the guidelines for next year's budget, which set the general government deficit target at 3.8% of GDP. Public spending is planned to rise by 8.3% and general government revenue is expected to rise by 11.6%, the Prime Minister said. Revenue centralization of the general government will remain at this year's 48.2%, Finance Minister Csaba Lбszlу added. EU entrants must cut budget deficits below 3% of GDP, trim debts to below 60% of GDP and slow inflation to adopt the Euro. Hungary won't manage without overhauling public finances, analysts said.
Šaltinis:
bbj.hu
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