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Gov't decree outlines criteria for calling down next tranche of EU loan

The government published a supplementary agreement outlining criteria Hungary must meet to call down the third tranche of a €6.5 billion EU loan in the form of a decree.

The supplementary agreement reflects the change in the projection for Hungary's general government deficit to 2.9% of GDP from 2.6% in the original agreement. It also requires the government to reduce operating costs in the budget, cut co-payments for EU farm subsidies, tighten criteria for disability payments, index pensions to inflation, eliminate pensioners' annual bonuses and raise the pension age.

Many of the requirements in the supplemental agreement were part of a program for additional austerity measures presented by the nominee for prime minister Gordon Bajnai to MSzP and SzDSz MPs. (MTI – Econews)