S&P forecasts high deficit
Hungary's public finance deficit will reach 11% of GDP in 2006 and will not go beyond 7.8% in 2008, credit rating agency Standard and Poor's (S&P) said on Monday.
S&P published a forecast on financial tendencies in Hungary, Poland, Czech Republic and Slovakia, and said that the Hungarian government's recently announced austerity measures alone would not be sufficient to restore the equilibrium of public finance, and could only be considered as a first step on the way to long-term stability. The government needs to implement structural changes on the spending side, especially in national health and social security, the report suggested.
ADVERTISEMENT
Alteo Invests HUF 5.5 bln in Energy Storage
Sport Now 'Strategic Sector' for Hungary - Minister
IWG Expands Footprint in Hungary With 2 New Locations
More Guest Nights y.o.y. for Year-end
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
