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Simor: Sluggish growth, poor growth outlook are reason for heightened exposure

  Central bank governor András Simor, speaking at a conference on Thursday, attributed Hungary’s increased exposure to the global economic crisis to sluggish growth and a poor growth outlook.


Simor acknowledged Hungary’s improving balance and noted that the 2009 targets for the general government deficit and state debt -- 2.6% of GD and 66% of GDP, respectively -- are no higher than France’s, but he said Hungary has been put in a difficult position by the global economic crisis because its economic growth has slowed and projections are for continued weak growth.

The dilemma is whether the financial support package from the IMF, the EU and the World Bank “will be sufficient to provide a positive answer to the question of confidence in connection with Hungary’s growth,” he said. (MTI-Eco)