Government averted fiscal emergency, says researcher
"The government successfully avoided a financial crisis by changing the national and social populist economic policy followed for the preceding six years," Pénzügykutató researcher Mária Zita Petschnig said at a conference. In addition the government began reforms postponed for 18 years, although it was ill-prepared to carry them out.
Prime Minister Ferenc Gyurcsány's big mistake was not making the Őszöd speech at the House debate of the government programme," Petschnig added.
"Austerity measures have proved successful, as the budget deficit is falling, but we must pay the price for it with reduced growth" Kopint-Tárki researcher Éva Palócz said.
The above story is just one of more than two dozen published today by Hungary Around the Clock, the most comprehensive source of daily English-language news about Hungary. For a free trial of HATC, click here. Hungarian news sources include Népszabadság; Magyar Hírlap; Világgazdaság; Napi Gazdaság; Magyar Nemzet; Népszava; Kossuth Rádió news and Hungarian television's nightly news broadcast.
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