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Hungarian economy likely to contract more than earlier projection

Hungary's economy is likely to contract even more than the projection made in February, Finance Minister János Veres told MTI.

Veres said in the middle of February that GDP would fall by 3.3% in 2009.

Veres said he supported steps in the crisis management program revealed so far by the government's nominee for prime minister Gordon Bajnai, adding that the better part of the steps are from proposals made earlier by the Finance Ministry.

Veres said Bajnai and he had agreed only on the program, not on his future role. (MTI – Econews)