EC Makes Economic Policy Recommendations To Hungary
(MTI) – Hungary should keep its public debt on a sustained downward path, the European Commission said as the first of seven recommendations it made to Hungary.
The recommendations are part of the EC’s country-specific recommendations to 26 member countries adopted and published on Monday.
The second recommendation is for fostering lending and the third one for simplifying the taxation of businesses.
The EC also proposed to Hungary ways to foster employment, competitiveness and transparency in a sustainable manner, dismantle obstacles to competition in the servicing sector, reduce the number of early school-leavers, and give incentives to investments and efficiency in the energy sector.
In response, Hungary’s economy ministry said that authors of the recommendations had disregarded “inevitable” improvements in the national economy.
In its statement, the ministry said that such recommendations as maintaining the fiscal balance, making growth more dynamic or increasing employment are in line with the government’s objectives.
The statement noted, however, that the recommendations were similar to those in 2013, and “hardly reflected” improvements of the past year. It said that investments increased spectacularly over the past year, the number of employed exceeded 4.1 million, the fiscal deficit stayed below 3 percent of GDP, and inflation hit a record low.
The ministry added that the government would signal its disagreement with the recommendations to the European Commission on Tuesday.
Source: http://mtva.hu/hu/hungary-matters
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