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Hungary to meet euro requirements by 2010

Hungary could meet the budget deficit requirements of introducing the common European currency in 2009 and also reach the inflation threshold by 2010, central bank (MNB) governor András Simor said.

 

Designating an accession target date will however have to wait until markets settle, he added. Simor’s optimism was underlined by Finance Minister János Veres, who said the Hungarian government has provided the adequate responses to the challenges presented by the global economic turmoil, raising the feasible prospect of Hungary meeting the European Exchange Rate Mechanism II requirements by the end of 2009. In order to further stabilize the national economy, the government is committed to enacting major structural changes within the municipal, social and tax systems, Veres added. (Gazdasági Rádió)