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Oszkó says 91% of budget reserves still intact

A total of HUF 188 billion, or 91%, of Hungary's 2010 budget reserves of HUF 205 billion (€781.08 million) remain intact and available to the next government, finance minister Péter Oszkó said at a press conference on Wednesday, responding to earlier statements from Péter Szijjártó of Fidesz, the landslide victor in the first round of national elections on Sunday.

The HUF 100 billion in stability reserves and the HUF 50 billion in interest-risk reserves remain intact and the government has only spent the pro-rata part of the HUF 55 billion general reserves, the finance minister said.

Oszkó was responding to a statement from Szijjártó, who said the current government is emptying the coffers before the next cabinet takes office. State secretary of the Finance Ministry Tamás Katona previously said the general government deficit is expected at HUF 719.4 billion at the end of May, or 81.9% of the annual deficit target.

The current government will hand over the budget to the next government at around 82% of the annual deficit target, just as the previous Orbán government did in 2002, Péter Oszkó said.

"The current government is doing its best in terms of the budget in order to leave the biggest possible reserves and thereby the biggest possible room to manoeuvre to the next government. Therefore I do not consider it gentlemanlike that they are claiming that we have burnt everything behind us when just the opposite is happening", the finance minister said. (MTI-ECONEWS)