Hungary is on track to overshoot the public deficit target for 2004, the central bank president said
Published:
12 September 2004 y., Sunday
Hungary is on track to overshoot the public deficit target for 2004, the central bank president said.
The government said earlier the January-August deficit was already more than the amount forecast for the entire year.
The finance ministry said the accumulated deficit from January to August amounted to 5.86% of gross domestic product, due to weak revenues.
The government has steadfastly maintained it would reduce the public deficit to 4.6% of GDP in 2004.
The central bank has already cast doubt over the government's ability to keep its deficit pledge, with the bank's inflation report in August forecasting a deficit of 5.4% of GDP for year-end 2004.
"The central bank sees a danger that the public deficit could be even higher by year-end than the 5.4% of GDP that we published in the August inflation report," central bank president Zsigmond Jarai told a hearing of the parliament's budget committee on Wednesday.
Hungary's public deficit reached 5.9% of GDP in 2003, which led to the dismissal of former finance minister Csaba Laszlo in January for exceeding the government's target.
Šaltinis:
bday.co.za
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 Gas Coordination Group, chaired by the Commission, met this afternoon to analyze in detail all elements of the preparedness of the EU and the Energy Community for a potential supply disruption in the Winter 2009/2010.
more »
In a meeting of the European Bank Coordination Initiative Group, held in Brussels, the parent banks of the nine largest banks operating in Romania reaffirmed their commitment to maintain their exposure to the country and ensure adequate capital levels over 10 percent for their affiliates.
more »
Airline airBaltic has informed of its plans to resume some flights from Vilnius International Airport before the end of this year.
more »
The European Commission has approved under EC Treaty state aid rules the restructuring plan of Lloyds Banking Group.
more »
"Finance and climate change" was under discussion at a 10 November hearing in parliament's Industry, Research and Energy Committee.
more »
The International Monetary Fund announced today the sale of 2 metric tons of gold to the Bank of Mauritius, the nation’s central bank.
more »
The euro area economy grew by 0.4% in the third quarter. Is the crisis over?
more »
After lots were drawn, ten winners of Danske Bankas scholarships and one winner of an iPod shuffle player were established.
more »
From 16 November 2009, AB Bank SNORAS network starts providing new products – one can sign agreements of “Finasta Asset Management” II level pension accumulation funds in all subdivisions of the bank.
more »
The expected turnaround in the Baltic Rim economies is likely to gradually improve the business opportunities for Nordic companies operating in the region.
more »