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Hungary may authorize govt to rewrite budget without IMF deal, Portfolio reports

Leader of governing party Fidesz MP's in Hungary's Parliament, Antal Rogán has submitted a proposal for an amendment to the law on Wednesday that would enable the government to overhaul key budget figures with no authorization required by a successful credit agreement with the IMF, business portal reported. In spite of the established schedule, Hungary's government approved the cornerstone figures of the 2013 budget as early as in mid-2012. The motion for Parliamentary debate to take place much earlier than the usual autumn or winter date was made by Prime Minister Viktor Orbán, who argued the new schedule would put the country's financial management on a more predictable and stable footing, says Portfolio.