Daily News Hungary economy

Budapest, May 20 (MTI) – Fiscal adjustments the European Commission has recommended Hungary make are unnecessary, government spokesman Zoltán Kovács has said.

The government is “totally” at odds with the recommendation, Kovács on public television late Thursday.

“The state of the Hungarian economy is good and stable. The targets we have set are totally achievable,” he added.

The EC said Hungary should make fiscal adjustments equivalent to 0.3 percent of GDP in 2016 and 0.6 percent of GDP in 2017 to meet its medium-term deficit goal in country-specific recommendations issued on Wednesday. The EC said it calculated that Hungary would overshoot its mid-term 1.5 percent of GDP structural deficit target, requiring “further measures” in both 2016 and 2017.

Hungary’s government aims to gradually improve the country’s structural balance and achieve the medium-term target by 2019.

Source: http://mtva.hu/hu/hungary-matters

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