Obran’s Fidesz Party, along with conservative allies, won a supermajority in the spring elections. Given how little Brussels respects conservatives, I wonder if this is payback.
Looks like it.
Hungary instituted fiscal prudence early. Its balance sheet (debt/GDP) looks to be in the top tier of EU states on a par with Germany.
From the article:
Hungary has Europes highest public debt at 80pc of GDP.There are also some interesting comments to the article.
Viktor Orban, Hungarys prime minister who was elected in the spring, last month unveiled a significant austerity package.
However, the European Commission deemed this to be largely of a temporary nature and said that the measures fall someone short of what is required.
In a statement, the IMF said that Hungary must to reassure markets by achieving the budgetary targets.