Hungary hopes to exit excessive deficit procedure in May, June 2013.

By bne IntelliNews March 6, 2013
Hungary may exit the EUs excessive deficit procedure (EDP) in May or June 2013, reported, quoting incoming economy minister Mihaly Varga as saying in an interview for local daily Magyar Hirlap. The 2013 state budget is in order and the government does not plan additional balance improving measures. Varga also vowed to support predictable fiscal policy if any adjustment is needed. The European Commission launched EDP against Hungary in 2004 for breaching the 3% GDP threshold of budget deficit. Hungary is among the six EU countries that may exit the EDP, thanks to the governments extra measures for consolidation, EC Vice President Olli Rehn said in February.

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335