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Budget drafts to show primary surplus from 2008, PM says

Prime Minister Ferenc Gyurcsány announced on Friday government plans for a proposal stating that no budget drafts could be submitted from 2008 onwards unless they showed a primary surplus.

Speaking at a meeting of the Investors' Council, Gyurcsány said after the short-term solution to stabilization of raising revenues, the government should contemplate larger restructuring programs, such as changes in the tax and pensions system, from 2007. The current tax system does not sufficiently support growth, he added. The proposal would be linked to the 2007 budget and submitted within a few days, Gyurcsány said.
Co-chairman of the Investors’ Council András Sugár in turn asked parliamentary parties to be more attentive to investors' needs by strictly sticking to the convergence plan to help euro adoption, and by taking measures to serve competitiveness such as better systems of taxation and social contributions.