"Hungary’s cabinet will be the first in the EU to formulate an authentic economic and social policy programme in the coming days, Prime Minister Ferenc Gyurcsány announced on Friday after meeting with Hungarian economists on global economic trends in Parliament.Present were Economy Minister Gordon Bajnai, professor at the World Economic Research Institute of the Hungarian Academy of Sciences Mihály Simai, economist Tibor Palánkai, president of the Stock Exchange Mihály Patai, economist Ádám Török, economic historian Péter Róna and Balázs Váradi from the faculty of economics of Eötvös Loránd University.
Gyurcsány said economic recession is expected to be higher than originally planned and the cabinet anticipates a rate of inflation lower than the 4.5% targeted during the redrafting of the budget. The EU predicts a 1.6% recession in Hungary this year.
Gyurcsány will call on President László Sólyom on Monday afternoon to brief him on the state of the economy and on what steps the cabinet plans to take."
Source: Hungary Around the Clock.
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26.01.2009