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Good news: no sanctions from Brussels

The good news is that no one wants to introduce sanctions against Hungary, Prime Minister Ferenc Gyurcsány told the press after a meeting of EU finance ministers in Brussels on Tuesday backed by a critical assessment by the European Commission of Hungary's general government deficit. Gyurcsány explained Hungary's ballooning budget deficit with the "financing of an ambitious program," including motorway construction costs, lower taxes and the payment of an annual bonus to pensioners. Gyurcsány said he personally informed Economic and Monetary Affairs Commissioner Joaquin Almunia that the government aims to continue these programmes, at the same time maintaining a balanced budget and improving the economy with an intelligent and composed budget policy.