Hungary: Next Austerity Package Resolved

People ♦ Published: November 17, 2012; 13:49 ♦ (Vindobona)

The Hungarian government is caught between the need to lower the budget deficit and to support economic growth.

Hungary: Next Austerity Package Resolved / Picture: © Wikipedia / Európa Pont

The Parliament in Budapest has resolved the third austerity package within a few weeks. At the beginning of October, the first austerity package had a size of € 1.59bn. The second package contained measures with a size of € 1.47bn. The latest austerity package totals € 320m. According to Prime Minister Viktor Orban, the measures allow the Hungarian budget deficit to be lowered to…