Press Release: Commission assesses convergence programmes of Malta and Hungary

Malta presented a Convergence Programme which expects a correction of the deficit to well below 3% in 2006 and a progression towards balance as well as a debt below 60% of GDP in 2009. The budgetary outcomes after 2007 depend, however, on growth expectations that are on the optimistic side. In this context, Malta is invited to spell out its budgetary expenditure control strategy and progress further on the road of healthcare reform. The programme submitted by Hungary at the beginning of December reflects the strategy already examined by the Commission at the end of September 2006, and endorsed by the Council, which aims to reduce the deficit from an expected 10% in 2006 to 2.7% in 2010. To achieve this correction, Hungary must, obviously, implement rigorously the 2007 budget, curb expenditure including of the public administration and healthcare systems, generally improve budgetary control and stand ready to take further action if necessary.

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