Josef hírek

2010.06.27. 10:46

Deputy PM Navracsics eyes lower deficit next year - Reuters

<p>Budapest, June 24 (MTI) - Hungary s budget deficit next year could fall to below 3 percent of gross domestic product, sticking to the course set out under the terms of the country s deal with the IMF and EU, Deputy Prime Minister Tibor Navracsics told Reuters in an interview published late on Wednesday.</p>

"Obviously during the planning of next year s budget we will have to reckon with whether we can meet the goal," Navracsics told Reuters.

    "We hope we can meet this undertaking by the Bajnai government, which would bring the budget deficit below 3.0 percent," he said.

    He added however that meeting even this year s target would be "very-very hard" in the new global environment.

    Navracsics underscored, however, the Fidesz centre-right government s commitment to meeting this year s budget deficit target of 3.8 percent of GDP.

    Asked about Hungary s euro aspirations, Navracsics said earlier expectations for entry in 2014-15 were "not out of the question" provided that the country can stick to the economic commitments of the previous Bajnai government.

    Hungary has not set a target date for joining the single currency.

    "One of our fundamental goals is to cut this exceedingly high state debt," he said.

    Hungary s public debt is around 80 percent of GDP.

    Navracsics also said the government and the central bank should discuss their views on monetary policy and Governor Andras Simor should provide a full explanation for his private investments held since taking over at the bank in 2007.

    He added that changing the central bank law was not on the agenda.

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