Government owns up to significant overshoot of 2005 deficit target
The government admitted on Wednesday what the market and analysts have been saying for months now, namely that it will miss this year's budget deficit target by a huge margin.
2006 budget deficit target 4.7% of GDP
At Wednesday's meeting, the government accepted the 2006 draft budget. The draft foresees a 1.4 pp reduction in the deficit to 4.7% of GDP, but this is still significantly higher than the 2.9% contained in Hungary's EU convergence plan.
PM admits possible euro delay - markets ambivalent
The Hungarian government will decide by the end of this year whether it will maintain its target date of 2010 to adopt the euro, Prime Minister Ferenc Gyurcsany said in an interview with the commercial radio channel Klub Radio.
MNB head sees risks to 2006 budget, 2010 euro adoption slipping away
Zsigmond Jarai, the president of Hungary's central bank MNB, said on Thursday that he sees further risks to the government's 2006 draft budget, and that he does not believe the euro can be introduced in 2010 as planned. "There is not even a trace of the structural reforms that would need to be implemented in the draft 2006 budget," Jarai told reporters.
Business outlook down slightly in September - Ecostat
The "Top 100" indicator of Hungarian research institute Ecostat fell one point to 54 points in September, but remained broadly positive since March, according to a monthly report by the institute.
