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Govt to finalize reform program on Feb 28

The government will discuss a much-awaited reform program for the first time at a cabinet meeting on February 16 and finalize it on February 28, National Economy Minister György Matolcsy said on Thursday.

The "Growth and Stability Program" will bring HUF 600 billion-650 billion in savings by 2013-2014, Matolcsy said. The program is necessary for Hungary to sustainably keep its deficit under 3% of GDP in the mid-term, he added. The focus of the program is placed on growth, he said.

Matolcsy said between HUF 600 billion and 650 billion must be consolidated by 2013 under the programme, and about half of this amount must be saved in 2012. The program "has to produce something" too in 2011, he added. (MTI-Econews)