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IMF seeks no further austerity measures from Hungary

The International Monetary Fund wants Hungary to implement "more balanced" policies that improve the country's growth outlook but does not recommend additional austerity measures for the economy which has been hit by recession, Bloomberg said on Thursday.

"We are not looking for more fiscal adjustment beyond what the government is already planning, there is no more austerity in our proposals,” Iryna Ivaschenko, the IMF’s representative in Budapest, told Bloomberg in an e-mailed response to questions. "But we think the adjustment can be achieved with more balanced measures, and more generally, we are looking for policies that can boost growth."

Hungary is seeking precautionary financial assistance from the IMF and the European Union.