The Hungarian government's goal of trimming the budget deficit to 2.8% of GDP by 2005 is "a considerable, but not impossible challenge"
Published:
28 November 2003 y., Friday
The Hungarian government's goal of trimming the budget deficit to 2.8% of GDP by 2005 is "a considerable, but not impossible challenge", the OECD said in its latest Economic Outlook, published yesterday.
Substantial expenditure cuts will be necessary, as the scope for tax increases has been exhausted, the report advised. For successful entry into the euro zone, planned for January 2008, Hungary needs consensus and coordination on macroeconomic policy, the OECD said. The OECD predicted a budget deficit of 5.2% for 2003, compared to Hungary's forecast of 4.9%, and put the budget gap at 4.3% in 2004. GDP growth in Hungary will rise to 4% in 2005 and become better balanced, OECD projected. (Econews, Vg 1, Nv 5)
Šaltinis:
bbj.hu
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In January 2009, the EBRD commissioned two Italian consultants to study Turkey's sustainable energy market in preparation for future investments.
more »
Next week a delegation of more than 50 Chinese businessmen, accompanying the Chinese Vice-Premier Hui Liangyu, are arriving to Lithuania.
more »
The German developer “ECE” together with Lithuanian partners opened a new shopping and entertainment centre Ozas Gallery in Vilnius.
more »
As it embarked on an ambitious stimulus spending, Thailand turned to the World Bank for advice on how to fast track the spending coupled with proper management controls to keep programs on the rails.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
On Monday AB DnB NORD Bankas started placement of a 13-month fixed-rate Lithuanian government bonds. It is the first time when Lithuanian sovereign USD denominated securities will be available on Lithuania’s retail market.
more »
The Swedish business daily Dagens Industry published an interview with Andrius Kubilius, the Prime Minister of Lithuania, to Bloomberg News.
more »
The economic crisis still has a firm grip on large parts of the world. But Sweden’s Minister for Trade Ewa Björling can see bright spots.
more »
The European Bank for Reconstruction and Development and KfW Entwicklungsbank (The German development bank) are providing a financing programme worth up to €28.9 million to MegaBank - one of the strongest regional banks in the eastern Ukraine.
more »
A settlement in an international tax dispute that strained U.S. ties with Switzerland.
more »