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Hungary economic policy mix of traditional, unorthodox measures, but appropriate

Hungary is going down a path that is appropriate for the country, one that involves both traditional and unorthodox economic policy measures, National Economy Minister György Matolcsy said at a presentation of the OECD's "Economic Policy Reforms 2011: Going for Growth" report in Budapest on Thursday.

Hungary is following an economic policy laid down in the OECD's report, that state debt must be reduced through structural reforms, Matolcsy said. That is the "kernel" of the government's structural reform program, the Széll Kálmán Plan, he added.

OECD Secretary-General Angel Gurria said the Széll Kálmán Plan was ambitious and outlined steps in the right direction in many areas. It appears, most of the OECD's recommendations are in the plan, he added.

Gurria noted that details of Hungary's economic policy measures could be revealed in the country's updated convergence programme.

The government is to submit the updated convergence program to Brussels on April 15.