Press Release: European Commission postpones conclusion of fifth review on the EU’s balance of payments assistance to Hungary

European Commission officials, in close cooperation with International Monetary Fund staff, conducted their fifth review mission under the EU balance of payments assistance to Hungary from 6th to 17th July.

They welcomed the new government's commitment to the budget deficit target of 3.8% of GDP for 2010 and recognised that several significant measures have been taken to correct budgetary slippages this year. However, they noted that there are a number of open questions on which the government would need more time to provide clarification. It was decided to postpone the conclusion of the review and that it would be appropriate to return for further discussions at a later stage.

• Primary Source