"At 3.8% of GDP, Hungary’s 2010 deficit target is realistic, Hungary’s Finance Minister Péter Oszkó told daily Napi Gazdaság in an interview. In Oszkó’s view, projected economic growth from 2011 may create space for future tax cuts.Hungary should be able to stay within next year’s budget gap target, provided the next government is committed to an economic policy focused on debt repayment, the Finance Minister said. "Anyone who promises tax cuts, or seeks to finance government expenditure from increasing debt and new loans, has not understood the message of the crisis".
Oszkó is of the view that the government should find a finance partner in restructuring state-owned railway company MÁV, which could make it possible for the state to reduce subsidies by HUF 40 billion.
The Finance Minister reiterated an earlier statement that the current government (to remain in office until next spring) has no plans to access additional funds from the IMF-EU credit facility."
Source: Portfolio Online Financial Journal
27.11.2009