Peter Medgyessy, the Hungarian prime minister, yesterday promised to stabilise the economy following turmoil in the country's currency markets this year
Published:
22 September 2003 y., Monday
Peter Medgyessy, the Hungarian prime minister, yesterday promised to stabilise the economy following turmoil in the country's currency markets this year, but warned it would take time before interest rates could be reduced.
Speaking at a business conference, he also repeated promises to prepare the country for entry into the European Union's exchange rate mechanism next May, and for entry into the eurozone in 2008.
Mr Medgyessy said this year's budget deficit would be around 4.8 per cent of GDP, and would be cut next year to 3.8 per cent. The forecast surprised analysts who expect this year's budget deficit to be close to 5.4 per cent. Mr Medgyessy has ordered ministries to cut staffing levels by 10 per cent next year. Stefan Wagstyl and Kester Eddy, Budapest
Šaltinis:
news.ft.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »