Commenting on the latest EU report finance ministers discussed at the Ecofin meeting in Brussels, Mihály Varga said the commission acknowledged Hungary’s continued budget deficit easing amid the global economic and financial crisis, Varga told public news channel M1.

The vulnerability of Hungary’s economy has also lessened and a reduction in the bank levy also accelerated lending activity, he said.

The report noted Hungary’s excellent performance in employment, particularly in boosting women’s employment. Hungary outperformed the other 27 member states, increasing this employment measure by 2.8 percent in 12 months, Varga said.

Commenting on Moody’s decision not upgrade Hungary’s sovereign rating last Friday, Varga said that according to the agency it will include Hungary in its rating calendar at a later time. Besides, the markets see Hungary’s economy more and more favourably, he added.

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MTI photo: Mohai Balázs