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Hungary gov't to discuss convergence program at Wednesday meeting

The Hungarian government will discuss the country's convergence program in a first reading at its April 6 meeting, the National Economy Ministry said on Monday evening.

Hungary is due to submit its updated convergence program to Brussels on April 15.

National Economy Minister György Matolcsy informed EU commissioner Olli Rehn in a letter sent on April 4 that the program will be on the agenda of the Wednesday meeting.

The ministry said that Matolcsy's letter was sent in response to the commissioner's letter dated March 11 which confirmed the European Commission's stand that Hungary has taken the proper direction towards financial consolidation based on the measures included in the country's structural reform and debt reduction program, called the Széll Kálmán Plan.

Speaking in Brussels on March 16, Rehn said that the European Commission sees visible signs in reform measures announced at the beginning of March that Hungary is going in the right direction on the path of fiscal consolidation, adding that the Commission wants to be informed of the details of the Széll Kálmán Plan as soon as possible, especially with regard to structural measures that will affect the country's deficit in the coming years.

Last Friday the National Economy Ministry said the government will reveal in the updated convergence program further structural measures necessary to create a sustainable financial balance in the mid-term. The ministry added that a National Work Plan to be prepared by April 30 will make proposals with the aim of creating in Hungary the most flexible labor market in the European Union.