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Growth, exchange rate and interest rate risks must be managed in 2012, says Rogan

Int’l Relations

Next year’s budget concentrates on managing growth, exchange rate and interest rate risks, chairman of Parliament’s Economy and IT Committee Antal Rogan said at a conference on Thursday.

Hungary’s economic growth is put at risk by uncertain growth prospects for the country’s biggest export markets, Mr Rogan said. The government’s personal income tax changes have propped up domestic demand, but consumption has not grown, he added.

To manage exchange rate and interest rate risks, the government wants to sign "quasi-insurance" policies and has sought to reach a new agreement with the International Monetary Fund, he said. The agreement will make these risks "predictable and manageable" in 2012, he added.

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