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 EBRD is supporting the modernisation of transport infrastructure in Serbia with a €150 million sovereign loan to finalise the construction of a new motorway section along the strategic Corridor X.
more »
The Executive Board of the International Monetary Fund (IMF) today completed the first review of Romania’s economic performance under a program supported by a 24-month Stand-By Arrangement (SBA).
more »
The Executive Board of the International Monetary Fund (IMF) today approved a three-year, SDR 13.57 million (about US$21.5 million) arrangement under the Poverty Reduction and Growth Facility (PRGF) for the Union of the Comoros.
more »
The Executive Board of the International Monetary Fund (IMF) today completed the second review of Mongolia's economic performance under a program supported by an 18-month Stand-By Arrangement (SBA).
more »
Parex banka has established a subsidiary, SIA NIF (“Nekustamo īpašumu fonds”, or “Real Estate Fund”), which will professionally manage assets that are not related to the Bank’s core business.
more »
In his address at the Lithuanian-Belarusian Business Forum “Belarus and Baltic States: new prospects for cooperation”, Prime Minister Andrius Kubilius has pointed out that Lithuania sees Belarus as creating its future in Europe...
more »
JDRF Employs VoIP and Web-Based Video Collaboration Enabled by Cisco for More Effective Teamwork Among Employees and Constituents.
more »
On 16 September 2009, AB Bank SNORAS group finished the transaction during which it purchased from AB “Invalda” with its own funds 100 per cent of the shares of AB “Finasta įmonių finansai”, managing AB Bank “Finasta”.
more »
Federal Reserve Chairman Ben Bernanke that the worst U.S. recession since the Great Depression was probably over, but the recovery will take time.
more »
Growth expected to return in the second half of 2009. Forecasts are still uncertain but fears of a severe, prolonged recession are fading.
more »