Járai said there were no signs of preparations for fiscal reforms. He noted that international appetite for risk-taking was falling, Hungary lacked fiscal transparency, and there was increasing pressure from the EU to rein in the public finance deficit.
“Hungary needs lower taxes, radically reduced social spending and cutbacks on public-sector employment,” Járai said. He said the 2010 target date for Eurozone entry was mere political propaganda, and that even 2013-2014 was only possible if reforms started immediately.
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