Hungary Rejects EC Economic Policy Advice
- 29 Jun 2015 9:00 AM
Hungary cannot accept two of the European Commission’s country-specific economic policy recommendations, Prime Minister Viktor Orbán said. One of these are the comments on its fostered work programme and the other is in connection with planned budget adjustments, Orbán said after an EU summit in Brussels. The European Council has declared the recommendations “generally acceptable”, which means “in straightforward language that in parts it is not,” Orbán said.
Brussels would like to see the Hungarian state provide benefits rather than fostered work, but Hungary won’t accept this, he said, adding that the fostered work schemes are “more successful than Brussels might think”.
The other recommendation proposes spending cuts worth 0.5 percent of GDP this year and 0.6 percent next year, in order to stay on track of the mediumterm deficit goal of 1.7 percent of GDP by 2017, Orbán said. He said while Hungary is grateful for the advice, “there will be no austerity measures”.
The European Commission outlined the recommended fiscal adjustments in its country-specific recommendations (CSR) in May.
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