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Investors shrug at deficit problems

The Chairman of the Budapest Stock Exchange (BSE) said yesterday that foreign investors were not really concerned with what went on in public finances in Hungary as long as the forint's exchange rate was stable. Opening an exhibition on the Stock Exchange jointly with Central Bank President Zsigmond Járai, Attila Szalay-Berzeviczy said the BSE's response to Wednesday's announcement of upped deficit targets for 2005 and 2006 was no more than a mosquito bite if viewed in the perspective of the upward surge of the past year-and-a-half. The market calmed down completely yesterday, which shows that deficit problems have long been priced in by London investment banks, Szalay-Berzeviczy added. (MTI)