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Hungary government begins talks with IMF and EU

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Hungary’s government has begun talks with officials from the International Monetary Fund (IMF) and the European Union (EU) regarding a new agreement that will lead to economic growth rather than austerity, the National Economy Ministry announced on Friday.

The agreement is likely to be concluded early next year, the ministry said.

The ministry announced Thursday afternoon that the government will start talks on a new type of agreement with the IMF. The new agreement will be one which does not raise government debt and will not be a loan but rather an insurance to increase investors’ confidence, the Thursday statement said noting that the deal will allow kickstart growth as planned.

"The Hungarian economy is financing itself from the market, we do not rely on the benevolence of others. Thereby the period of renewal has closed and that of growth has begun for which we must take advantage of all possible means", the statement said.

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