New report analyzes the Hungarian budget: just a communication debacle or a source for real concern?HungaryPosted by Chambers of Commerce Sweden - Southeast Europe Wed, June 09, 2010 15:58:26
Hungary has been at center stage during the last days, following the astonishing comments by some Hungarian officials - Hungary “has only a slim chance of avoiding a Greek-style scenario”, “default talk is not an exaggeration". These comments triggered a sell-off not only of Hungarian assets but they also had an impact on a global level. During the last weekend the tone of the Hungarian government changed, as officials claimed that previous statements were “unfortunate” and “exaggerated”. The government reiterated its commitment to maintain the deficit/GDP ratio agreed with the IMF and EU (lower than 4% this year).
Bank Austria has analyzed the new situation that has arisen in Hungary and presents its oppinions of the outcome in a report that our members can download here.