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Govt securities yields must be brought under 7%, says state sec

State secretary for economic strategy Zoltan Csefalvay said in a radio interview late Tuesday that credit agencies’ message should be heard and Hungary must aim to bring the yield on its government securities under 7%.

Mr Csefalvay said an agreement with the International Monetary Fund and the European Union on financial assistance for Hungary could be reached within two months.

Hungary is seeking the assistance as a precautionary measure that will allow the country to finance its debt on the market.

The agreement will help Hungary to bring the yields lower and could also strengthen the forint, the state secretary said.

Benchmark yields on the secondary market for government securities were between 7.61% and 9.15% on Wednesday.