Ecofin endorses Commission view Hungary fiscal measures are inadequate

European Union finance ministers endorse the European Commission’s view that Hungary has failed to make sufficient progress to narrow its fiscal deficit as part of an European Union procedure, Commission Vice President Olli Rehn said at a press conference following a meeting of Ecofin on Tuesday.

Answering a question by a journalist, Mr Rehn acknowledged the possibility of a proposal to suspend commitments to Hungary from the Cohesion Fund from the start of next year. He added that there was “ample time” for Hungary to take action to meet its fiscal targets.

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