Gov t reform programme to be ready by February

The government will discuss the Hungarian Growth and Stability Programme at the end of February but a first draft will already be sent to the European Union and the OECD in early February, said Nagy. Economy Minister Gyorgy Matolcsy has already agreed on this with European Commissioner for Economic and Monetary Affairs Olli Rehn, she added.

    In reaction to Moody s decision to cut the rating of Hungarian government bonds on Monday, Matolcsy told MTI that "we consider it necessary to announce a structural reform package next spring and we hope that Moody s will take that into consideration at its next assessment".