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Gov't spending cut pledge seen winning over investors

Prime Minister Viktor Orbán is winning over investors with a pledge to cut spending after the reception to his unorthodox policies last year turned the forint into the worst-performing major currency, Bloomberg reports. Hungary's 10-year government bonds were the best performers in emerging Europe since the government first outlined plans to trim spending on January 12, the country' national currency, the forint on Wednesday rose to a three-month high against the euro, while the benchmark BUX stock index gained 6.5% in January, the best in almost a year, the news agency said. “Orbán had made the impression that he views the market as an enemy,” Bloomberg cited Thomas Kirchmair, who helps manage $4.1 billion in European debt at Deka Investment GmbH in Frankfurt, as saying. “What we are hearing out of Hungary now is that it may be turning around and structural reforms to be announced at the end of February could be a positive.”