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New Austerity Package in Hungary
Politics ♦
Published: October 5, 2012; 19:53 ♦ (Vindobona)
In order to cut the budget defict below 3.0% of GDP in 2013, the Hungarian government plans further cuts and tax increases.
New Austerity Package in Hungary / Picture: © Vindobona.org
Hungary needs a new loan of IMF urgently. The negotiations were postponed and interrupted several times. The loan would have an interest rate of 2.5%, which is substantially lower than the interest rate on sovereign bonds. In the last months, IMF criticized Hungary´s economic forecasts and austerity targets.
At the moment, the country´s public debt quota is at 79%. Although,…
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