Hungary's PM Orbán: A different IMF Deal Necessary Than In 2008

  • 11 Sep 2012 9:00 AM
Hungary's PM Orbán: A different IMF Deal Necessary Than In 2008
Prime Minister Viktor Orbán spoke at the opening session of the Hungarian Parliament following its summer recess, stating that Hungary is in a different situation than in 2008 and a different International Monetary Fund (IMF) agreement is necessary. He highlighted that the country is stronger than it was four years ago with larger room for manoeuvre, which is a result of the policy linking the country’s success to greater autonomy and independent decision-making.

The Prime Minister added that the IMF is expecting a decrease in budgetary expenditures just like in 2008. However, lessons have to be learned from the previous agreement, he emphasised.

Prime Minister Orbán said that everything is going according to the government’s plan and highlighted: several hundred thousand people were saved from the credit crisis, a proportional, performance stimulating, family-based tax scheme is being established, unemployment has been reduced to the level it was at before the crisis and a job protection action plan has been introduced as a first in Europe. Furthermore, following the English example, Hungary will set up a financial ombudsman authority to help people with their complaints.

The Prime Minister mentioned as the main topics of Parliament’s autumn session the vote on the new Land Act, serving as a basis of a modern farmer-centred estate system, the new Civil Code, the electoral law and next year’s budget. Prime Minister Orbán also mentioned that by the beginning of the 2013/2014 academic year the restructuring of the state organisation will be fully completed.

Source: Prime Minister’s Office - kormany.hu

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