Budget gap target rises to include motorways
Hungary will raise its budget deficit targets for each year through 2008 to account for the full cost of highway construction projects, Finance Minister János Veres said on Tuesday.
Prime Minister Ferenc Gyurcsány and Veres met Monetary Affairs Commissioner Joaquin Almunia to discuss Hungary’s Convergence Program, which outlines the path to euro adoption. “Hungary does not have a specified Euro introduction target date at the moment,” Veres said after the meeting. The target will be included in Hungary’s convergence program, he added. The document is to be completed and submitted by September 1.
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