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Hungary likely to miss 2008 target

Hungary is likely to miss the 2008 deadline to cut its budget deficit below the 3 percent limit set by European Union rules, the European Commission said Thursday, criticizing the government for cutting taxes and failing to rein in spending.


The European Commission said Budapest's efforts to meet its target to cut its deficit to 3.6 percent this year were "inadequate." The deficit is expected to nearly double to 6.1 percent.


Source: businessweek


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20.10.2005

 
 

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