"If we do a good job, this should be the last crisis management budget for Hungary, at least for the current recession cycle," Hungary's Prime Minister Gordon Bajnai said in his keynote address at Parliament's opening session on Monday.The premier thanked the decisive majority of MP's who put Hungary's long-term interests ahead of short-term considerations in the past 5 months, wire service MTI reported.
The top priority task for Parliament this fall is to pass the 2010 budget, cementing the crisis management efforts that have been done so far, Bajnai said.
The 2010 budget is a “customized and responsible plan. It demands major sacrifices and crisis management is still the key objective, however it will also sow the seeds of economic recovery and growth. There is no need for more stringency, but there is no room for more government funding either," he continued.
Crisis or no crisis, the government guarantees the national funds Hungary is required to provide to be eligible for EU projects, the Prime Minister claimed. In addition, over HUF 110 billion funding will be available for the development of the SME sector, plus approximately HUF 80 billion for R&D projects, he added.
The government has obtained IMF approval not to use up the rescue loan by 2010 unless necessary, as Hungary may be able to weather the crisis without these funds. Thus the next government will have funding available to spend if they wish to spend more, Bajnai concluded."
Source: Portfolio Online Financial Journal
15.09.2009