Barroso said he counted on Gyurcsány’s support in EU affairs in the future, such as Brussel’s attempt to make the benefits of EU enlargement two years ago long-lasting and to deal with the challenges of globalization. The European Commission will do its most to support Hungary on a path of reforms, Barroso said.
The European Union’s statistical office published data on Monday, showing Hungary with the largest fiscal deficit at 6.1% of GDP and public debt at 58.4% of GDP last year, after deducting allowances for the costs of pension reform, which lowered the fiscal deficit by 1.4% of GDP and public debt by 4.0% in 2005, according to the EU statistics.
The European Union on Monday renewed its call on Hungary’s next government to present a credible convergence program to cut the bloated budget deficit. EU finance ministers have given Hungary until September to submit a revised plan on lowering the budget deficit to below 3% of gross domestic product.
Hungary has committed to lowering its deficit below 3% of GDP in 2008, which is crucial for its goal of adopting the euro in 2010.
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