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Fidesz MPs ‘fully’ behind Matolcsy

MPs of governing Fidesz stand "100%" behind National Economy Minister Gyorgy Matolcsy, parliamentary group leader Janos Lazar told journalists on Monday.

Mr Lazar said the government’s intention to continue financing the country on the market was not changed by the government’s initiation of contact with the IMF. The IMF cooperation will be "our insurance against an accident", he said.

Mr Lazar said a meeting of Fidesz's parliamentary group on Monday touched on the IMF cooperation, but added that at this point there was not anything to discuss.

The cooperation is necessary to allow Hungary to achieve economic growth, he said, reiterating what members of the government said earlier. Achieving economic growth of around 1pc is more certain if one "has accident insurance", he added.

The government's 2012 budget bill is based on an assumption of 1.5% GDP growth. But Prime Minister Viktor Orban said on Friday that the projection could be revised downward if Germany -- Hungary's biggest trading partner -- lowers its growth forecast.