IMF requires no further spending cuts from Hungary

Washington, October 4 (MTI) – The International Monetary Fund has not asked the Hungarian government to make any further spending cuts as a precondition for talks on financial assistance, IMF external relations director Gerry Rice said at a press conference on Thursday.

The IMF does not propose any stricter financial measures than those necessitated by Hungary’s 2013 budget targets, the director said in response to a question by MTI news agency.


Rice said that no date has been set for the talks to be resumed, but added that the IMF was in touch with Hungarian authorities and European partners.


The official also referred to an IMF statement issued on July 26, in terms of proposed directions for Hungary.


IMF’s July statement suggested that in the short term Hungary should work to maintain macroeconomic and financial stability, and lay the foundations for more dynamic growth to improve living standards. Hungary’s economic policy should consolidate the budget in a sustainable way, and create a more entrepreneurial environment, as well as support the implementation of structural reforms, the statement said.