Hungarian Government officials and executives of key foreign investors reviewed economic policy and its bearing on foreign investment at a meeting of the Investors’ Council in Parliament last Tuesday

Hungarian Government officials and executives of key foreign investors reviewed economic policy and its bearing on foreign investment at a meeting of the Investors’ Council in Parliament last Tuesday. The council was set up at the initiative of the American Chamber of Commerce in 1998, with a view to maintaining dialogue between the government and international investors. In a speech to those gathered, Prime Minister Pйter Medgyessy noted that the strong presence of foreign investors is the most important condition for the rapid continuance of economic transformation. He promised a simplification of taxation procedures and reduction of the budget deficit. He expressed agreement with the idea of reducing local business tax, but said this must not endanger local government finances. (