Hungary needs turnaround to meet growth target in 2012 - EcoMin

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Hungary needs a growth turnaround if GDP is to increase at least 1.5% in 2012, National Economy Minister György Matolcsy said at a press conference on Thursday.

Growth is slowing in Europe and the whole world, which is why Hungary needs a growth turnaround if it is to achieve the 1.5% increase of GDP projected in the 2012 budget bill, Mr Matolcsy said.

Matolcsy reaffirmed the government's commitment to achieving the 2.5%-of-GDP general government deficit target for 2012 "through fire and water" as well as the 2.94%-of-GDP deficit target for 2011.

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