Hungary's government has taken sufficient measures to stabilize the economy.
Hungary's government has taken sufficient measures to stabilize the economy, but a strict fiscal policy as well as maintaining risk reserves is still necessary, and further measures must be taken in 2011 to bring the general government deficit under 3 pct of GDP. It was the conclusion of IMF Delegation Head James Morsink on Monday, after a review of Hungary's progress meeting the conditions of a EUR 20 billion financial support package from the IMF, EU and World Bank granted in November 2008, after the country's bond market ceased to function properly.
Further measures are required to reduce Hungary's state debt from over 80 pct of GDP to 65 pct in the next five years, Mr Morsink said.
