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 financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »