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Hungary agrees to EU recommendations on budget |
The European Commission said on Thursday that Hungary had agreed to recommendations made by the EU executive, which this week said Budapest should cut its budget deficit faster if it wants to join the euro in 2010.
"I have the firm and clear commitment of (Finance) Minister (Tibor) Draskovics to do all in our recommendation to fulfill these goals," European Economic and Monetary Affairs Commissioner Joaquin Almunia told a news conference.
The European Commission said in an assessment of Hungary's progress on Wednesday that it should take extra austerity measures worth 0.5 percentage point of gross domestic product this year to meet its budget deficit target of 4.7 percent of GDP.
Source: Reuters
18.02.2005
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