Hungary's PM Plays Down Need For IMF Loan

  • 10 Oct 2012 9:00 AM
Hungary's PM Plays Down Need For IMF Loan
Hungary will be able to finance itself without an IMF agreement again next year, just as it has done this year, Prime Minister Viktor Or-bán declared yesterday.

Addressing the Hungarian Standing Conference in Budapest, he acknowledged that funding would be easier with an IMF loan agreement, but is still possible without one.

One in five tax forints goes to pay off the state debt, he said, adding that maturing state debts made up 17% of the GDP this year, a figure that will rise to 19% next year.
However, he continued, 2013 promises to be a better year for Hungary than 2012.

Source: Hungary Around the Clock

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