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Gov't puts Hungary back on balance path

Prime Minister Gordon Bajnai said his “government of action” had put Hungary back on the balance path, assessing the government's first fifty days at the end of a cabinet meeting on Wednesday.

Steps the government has taken have strengthened confidence in the country, Bajnai said, though stressing that Hungary is still at the start of the path and this confidence is delicate.

Putting Hungary on a responsible, dependable and growth-based path can win back the confidence of foreign investors, and it is in this way too that the government is trying to win confidence at home, he said.

The forint's recent strengthening has reduced the debt to Hungarian families by some HUF 400 billion, and the country's risk premium has been almost halved in the past six weeks, Bajnai said.

The government needed fewer than 50 days to reach a renewed agreement with the IMF and the EU on ensuring stable and reliable financing for the country, winning back confidence on global financial markets and putting the country back among those European countries with low budget deficits, Bajnai said.

In its first 50 days, the government submitted 17 proposals for legislation to Parliament, introduced 27 regulations and made 32 decrees. (MTI-ECONEWS)