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New gov't to cut taxes by one-third over three years, Matolcsy says

Hungary's new government intends to cut taxes by one-third over the coming three years, György Matolcsy, who will head the economy ministry, said in a radio program on Thursday morning.

Matolcsy said the new government would like to keep the budget deficit at 5%-6% of the GDP this year. He added that the deficit would be much higher than the level targeted by the outgoing government without the new government's growth-oriented policy.

Speaking of the central bank governor's offer to cooperate with the government, Matolcsy said that although he criticized the central bank's policies as an opposition economist, as economy minister he must work with the central bank governor.

Matolcsy said the incoming government has a plan to deal with an eventual new financial crisis. (MTI-ECONEWS)