Economic policy turnaround needed to cut interest expenditure


Hungary needs an economic policy turnaround for the country risk premium to fall, which would in turn reduce the interest expenditures of the central budget; such a policy turnaround could be sealed by Hungary's agreement with the IMF/EU, vice president of the National Bank of Hungary Julia Király said at an event organized by the Joint Venture Association on Monday.

She added that a high primary balance in the budget is required for reducing the government debt.

Király said inflation will be well above 5% this year. The central bank's experts are still calculating their forecast for 2013, but inflation will still remain above the 3% inflation target next year, she said.


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