Hungary to set up new crisis fund.

By bne IntelliNews February 7, 2011
Hungary plans to create a stability reserve fund in the 2011 budget, economy minister Gyorgy Matolcsy announced in Brussels as cited by Portfolio.hu. The fund will amount to about EUR 920mn or 1% GDP and will be used in case of adverse external developments, which could affect the local economy, e.g. instability in the EU financial system. It is not yet clear from which chapters of the budget the money will be accumulated.
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