EU comfortable with Hungary's macroeconomy measures
Thursday, July 14, 2005, 14:52
The European Commission (EC) is comfortable with Hungary's budget flows and other macroeconomic indices, Finance Minister János Veres said on Wednesday. A report on Hungary voices satisfaction with government budget measures, some of which have already been taken, others of which will go into effect later this year, Finance Minister János Veres told the media. The EC agreed with the government that the public sector deficit target of Ft 1,022 billion is attainable in the latter half of the year. The Commission feels that Hungary's growth will be as forecast and should exceed the corrected European Union growth increment by over 2 percentage points, he said. EC is also comfortable with projected inflation, since it is lower than what the government had planned for. Foreign direct investment also appears to be growing, the minister said, and net wages took to be up significantly, he added.