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
Parex Bankas won the tender organised by UAB Investicijų ir Verslo Garantijos regarding the financing of very small, small and medium-sized enterprises, and is to lend LTL 100 million together with other three selected banks.
more »
The European Commission has approved, under EC Treaty state aid rules, the €5 billion risk shield for German bank WestLB and accompanying measures, following an in-depth investigation opened in October 2008.
more »
MEPs have backed new rules to rebuild trust in Europe's battered banks through better financial supervision and risk management.
more »
Taking into consideration the tendencies in the market, starting from 11 May this year AB Bank SNORAS will change the interest rates on time deposits in Litas, Euro, Great Britain pounds and USA dollars.
more »
Now VW and Porsche who are looking into a merger.
more »
First European SME week supports small businesses and encourages entrepreneurship.
more »
Officials at an El Paso bank said $120,000 found at an ATM doesn't belong to the bank.
more »
The placing on the market of seal products should not be allowed say MEPs. It is permitted only where the seal products result from hunts traditionally conducted by Inuit and other indigenous communities.
more »
President Barack Obama is calling on Congress to overhaul tax policies that he said reward companies for shifting U.S. jobs overseas and allow wealthy people to evade taxes using offshore accounts.
more »
MEPs will discuss the protection of animals used for science Monday evening along with a proposal to ban the trade in seal products.
more »