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British investors welcome gov’t measures to stabilize economy

British investors welcome the Hungarian government's steps to stabilize the country's economy, Lord Mayor of the City of London David Brewer said during an official visit to Budapest on Wednesday. Brewer said the government's recently announced austerity measures were drastic, but necessary in order to put the country's budget in order and meet the Maastricht criteria for adopting the euro. British investors see plenty of opportunity in Hungary's private and public sectors, Brewer said. He added that Hungary's local councils could learn from UK experience, especially from the experience of cities in the UK regarding public-private partnerships (PPP) to make infrastructural investments. Brewer also praised the government's introduction of individual retirement accounts. Brewer met with Finance Minister János Veres, Minister of Economics and Transportation János Kóka and National Bank of Hungary Vice President György Szapáry during his visit. (Bloomberg)