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Matolcsy consulting with central bank governor on 2012 growth target

National Economy Minister Gyorgy Matolcsy is consulting with the National Bank of Hungary governor on next year’s economic growth target, government spokesman Andras Giro-Szasz said on Wednesday.

The government wants to wait until Germany’s government takes an official stand on their country’s growth prospects for next year, he said in connection with Hungary’s national growth plan.

Mr Matolcsy said on Friday that the 1.5% GDP growth target in the 2012 budget bill was unrealistic because of the worsening outlook for growth in Germany, Hungary’s biggest trading partner. He instead put growth in a range between 0.5% and 1%.