Hungary expects understanding and consistency from the European Union in assessing its budget deficit, Socialist MP Tibor Kékesi told MTI on Friday. The MP, head of the budgetary work group of the Socialist parliamentary group, was commenting on the European Commission's Thursday projection, which criticised Hungary for repeatedly overshooting its deficit targets. Kékesi said, "The EU should show some understanding so that the dynamically expanding, export- and investment-driven Hungarian economy should not have to sacrifice its large growth rate for the sake of cutting its deficit by a bigger-than-tolerable rate." Such understanding would enable Hungary not to face EU-level unemployment and a halt in its declining rate of unemployment, he said. Hungary also expects consistency, the MP added, noting that the European Union had not imposed any sanction on euro zone countries which "had assumed much more obligatory commitments and promises but failed to fulfill them." "It is not a proper idea to put the emerging countries on the pillory," Kékesi said, arguing that the withdrawal of EU infrastructure funding would put these countries in a difficult situation. The Socialist MP said that "investors are obviously voting with their money. If they find the Hungarian economy credible and perspective, the EU and its member states could also assess its future similarly." "The Hungarian economy is small but strong", and the forint is not threatened "by any visible speculation", Kékesi said.
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.