PM meets with UK counterpart and London analysts


Hungarian Prime Minister Ferenc Gyurcsány met UK Prime Minister Tony Blair for a brief talk during a one-day visit to London on Wednesday to attend commemorations of the 1956 Hungarian Revolution. Gyurcsány met analysts from London-based investment firms in the afternoon to allay any worries about political instability in Hungary and demonstrate his determination to carry out unpopular reforms. Investors took the European Commission's approval of Hungary's updated convergence program as "the first promising sign" of stability, Gyurcsány said after the closed-door meeting. He added that the analysts view Hungary's current government as the guarantee for reforms. He conceded that investors were now looking for proof, not more promises, that Hungary's gaping budget deficit would be reduced. He admitted that Hungary's credibility has suffered and said that the only way to restore credibility was to carry out the fiscal adjustment program. "Any hesitation, any weakness, any excuses as to why we cannot implement it would hurt Hungary's interests," he said. "It will be possible to deliver the evidence relatively soon, within the coming six months, as the promised numbers come in... that is what will restore credibility," he said. (Mti-Eco)


CIG Pannónia Board Proposes HUF 18-per-share Dividend Figures

CIG Pannónia Board Proposes HUF 18-per-share Dividend

Parliament to Discuss Sweden, Finland NATO Accession Next We... Parliament

Parliament to Discuss Sweden, Finland NATO Accession Next We...

IBS Reaches 50-50% Gender Ratio in Management HR

IBS Reaches 50-50% Gender Ratio in Management

Sümeg Castle Reopens History

Sümeg Castle Reopens


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.