“It appears that the program contains a number of structural steps that would improve the sustainability of the general government,” Amadeu Altafaj Tardio, the spokesman for European Commissioner for Economic and Monetary Affairs Olli Rehn, told Hungarian reporters. The Commission is waiting to be informed of the details of the plan and their effects, which it will analyze in detail, he added.
National Economy Minister György Matolcsy presented the Széll Kálmán plan on Tuesday. The plan aims to reduce state debt and foster growth.
The plan’s main goal, to reduce state debt, is in line with a recommendation by the Commission, Tardio said. The significant proportion of the consolidation from the expenditure side is also positive, he added.
As the Commission has not been informed of the details of measures, with the exception of some steps on the revenue side, it cannot yet assess the exact scale of the plan’s effect on reducing the general government deficit, he said. The Commission must still analyze whether the plan puts Hungary on a sustainable path of consolidation and moves it in the direction of lasting debt reduction, he added.
The Commission will also assess the plan in light of Hungary’s excessive deficit procedure, Tardio said.
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