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EU Commissioner: Hungary has macro imbalances

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Pierre Moscovici, EU commissioner in charge of economic and financial affairs, taxation and customs, late yesterday told journalists that an investigation found macroeconomic imbalances in Hungary that require decisive political measures and close monitoring.

"In particular, risks stemming from the still highly negative net international position, despite some progress in the rebalancing of external accounts, the high level of public debt as well as the high regulatory burden on financial sectors and a high level of non-performing loans which make the deleveraging difficult, continue to deserve attention," the European Commission said in a statement on the survey.

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