Hungary needs steady, moderate reforms, not shock therapy, says PM

Conferences

Hungary needs a moderate but continuous policy of reform, not shock therapy, Prime Minister Ferenc Gyurcsány told a forum on Friday.

“I don’t believe in shock therapy, I think the consequences are unbearable both in terms of society and economic policy,” Gyurcsány told the forum organized by the American Chamber of Commerce, the Joint Venture Association and the German-Hungarian Chamber of Industry and Commerce.

Instead of shock therapy, Gyurcsány proposed gradual reforms, such as reducing state administration and cutting taxes and contributions.

There is no solution that will turn the country around from one day to the other. To become competitive will require “steady, balanced work”, he said. He said competitiveness has not only economic but also social aspects, stressing the importance of developments in the field of education, culture and science. (MTI-Econews)

ADVERTISEMENT

Poles Save on Education as Inflation Puts Pressure, Report Analysis

Poles Save on Education as Inflation Puts Pressure, Report

Gov't Clears HUF 200 bln Aid for SMEs in Energy-Intensive Ma... Government

Gov't Clears HUF 200 bln Aid for SMEs in Energy-Intensive Ma...

Róbert Ésik Joins EY as Partner Appointments

Róbert Ésik Joins EY as Partner

Teachers' Strike Demonstration Attracts Thousands in Capital City

Teachers' Strike Demonstration Attracts Thousands in Capital

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.