Business leaders in Hungary are worried about the country's deteriorating investment climate
Published:
5 October 2003 y., Sunday
Business leaders in Hungary are worried about the country's deteriorating investment climate. Calls on the country's Central Bank to cut interest rates and on the government to curb state spending have so far gone unheeded.
All the Hungarians seem interested in is a major fraud and money-laundering scandal – and especially in the question: who's to blame?
The time when Hungary used to be a model scholar in the transition process to a free market economy has been over for some time. Recent governments - the last one (conservative) under Fidesz leader Viktor Orbán, and the incumbent (left-liberal) coalition led by Péter Medgyessy (no party affiliation) - seem caught up in inter-party squabbling rather than dealing with the necessary political and economic reforms prior to joining the European Union in May next year.
Central Bank governor Zsigmond Járai is becoming increasingly skeptical about the government's stated aim to join the euro zone by 2008. The Finance ministry is constantly coming up with economic growth predictions that have undergone downward adjustments – from 4 percent to 3 to 3.5, recently.
Last year's spring election, with its record turnout, demonstrated that a majority of Hungarians no longer supported Mr Orbán's us-Hungarians-we-are-the-greatest philosophy: by a slim majority voters preferred the alternative, a coalition of socialists and progressive liberals, led by the wealthy businessman-banker Mr Medgyessy.
Šaltinis:
rnw.nl
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 President of the Spanish Government, José Luis Rodríguez Zapatero, will meet this Monday with the German Chancellor, Angela Merkel, to analyse the future EU economic and employment strategy EU2020 before the Twenty-seven approve its basic lines at the Spring European Council.
more »
The planned overhaul of the EU common fisheries policy should take better account of the huge differences across European fleets and fisheries, give greater responsibility to fishing regions, address the problem of fleet overcapacity and improve the traditional quota system, according to a non-binding report adopted by Parliament on Thursday.
more »
The EMU framework and economic governance within the eurozone need to be revamped.
more »
Young people should be a priority in EU action next year, it emerged on Tuesday, as the Budgets Committee started work on the EU's 2011 budget.
more »
European Investment Bank (EIB) support for EU regional policy is crucial for tackling the economic crisis, EIB President Philippe Maystadt told the Regional Development Committee on Monday.
more »
Three thousand former car, refrigerator and construction workers in Germany and Lithuania could get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Tuesday.
more »
Today, 22 February, the EU Council of Agriculture and Fishing in Brussels, under the chairmanship of the Spanish Minister, Elena Espinosa, will analyse the impact of the economic crisis on the Greek agricultural sector, which has experienced a drop in prices and income, with small farms that pose an obstacle for the producer for negotiating with large distribution chains.
more »
Municipal policies to tackle the crisis and their application at EU level will be discussed during the three days of the summit entitled, “Networked Local Governments for a New Europe”, which will bring together representatives from 260 cities in Barcelona.
more »
The EBRD is promoting energy efficiency and renewable energy projects in Moldova, helping the economy to reduce its energy intensity with a new €20 million credit line for on-lending to local private companies.
more »
The EBRD is lending $1.2 million to Salkyn, one of the largest ice cream producers in Turkmenistan, to help the company expand its distribution network and build up its brand.
more »