Press Release: Commission’s mission to Hungary welcomes commitment to structural reform and calls for further details on deficit cuts

European Commission officials, in close cooperation with International Monetary Fund staff, conducted a mission from 4th to 8th April to prepare the Commission's Spring 2011 forecast and to review recent developments and policy initiatives.

Commission and IMF are mandated to continue the surveillance after the expiry of the EU balance of payments assistance to Hungary in November 2010. They welcome the announcement by the Government of structural measures contained in the "Széll Kálmán plan" that should improve the sustainability of public finances. They expect the Government to provide further details in the Convergence programme due to be submitted to the EU in mid April. Based on this, an assessment will be made whether this is sufficient to ensure that the deficit remains below 3% of GDP in the coming years.

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