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Gov't to wait till first discussion of reform package before seeking opinion from Brussels

Hungary's government will inform the European Commission of a structural reform program and ask its opinion after the cabinet discusses the program for the first time this week, National Economy Minister György Matolcsy said at a joint press conference with European Commissioner for Economic and Monetary Affairs Olli Rehn in Brussels.

The government will take decisions related to the program by the end of February, Matolcsy said after an Ecofin meeting, confirming an earlier announcement.

Matolcsy said at the end of January that the government would discuss the program at a cabinet meeting on February 16 and finalize it on February 28.

The program, which is necessary for Hungary to sustainably keep its deficit under 3% of GDP in the mid-term, will bring HUF 600-650 billion in savings by 2013-2014, Matolcsy said at the time.

Rehn confirmed at the press conference on Tuesday that Brussels expects to get the fiscal consolidation and structural reform programme from the Hungarian government soon. A "constructive" exchange of ideas is continuing with our Hungarian partners, he added. (MTI – Econews)