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Juncker welcomes Hungary's euro convergence plan

Initiatives

Luxembourg's Prime Minister Jean-Claude Juncker, who heads Eurogroup, the committee of euro-zone finance ministers, reacted positively to Hungary's euro convergence program during a meeting with Prime Minister Ferenc Gyurcsány in Luxembourg on Wednesday, government spokesperson Boglár László said.

Juncker, who is also Luxembourg's Finance Minister, welcomed the main measures of the program, said Boglár László.
Hungary will submit its revised convergence program to the European Commission on Friday. Part of the plan involves cutting the budget deficit to 3.2% of GDP in 2009 from 10.1% this year.

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