Hungary's forint, bonds fall on protests against PM
On a tape, leaked to several media outlets on September 17,
Gyurcsány later published the full text in his Internet diary. He was calling for the start of a cleansing process in Hungarian politics, he said. „The anti-government protests themselves, or a resulting change in the composition of the government, could weaken the resolve or effectiveness in pursuing reform and fiscal consolidation plans,” S&P said a statement, „which could eventually lead to the ratings being lowered.” Gyurcsány is seeking to cut the deficit from the equivalent of 10.1% of gross domestic product this year to 3.2% in 2009 as part of preparations for eventual adoption of the euro. The government has pledged to raise taxes, boost regulated energy and drug prices and cut government jobs to reduce the shortfall. (Bloomberg)
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