Monday, November 21, 2011

Hungary could not resist the impact of the economic and financial crises

The Hungarian government requested financial assistance from the EU Commission and the IMF that cancel the agreement with the IMF last year.

Hungary could not be reached the desired level of growth and financial stability and the government is obliged to ask for help from the IMF again.

The statement made by the Commission to "Today the Hungarian authorities have requested for a possible EU financial assistance. Moreover, Hungary
have requested similar financial assistace from the IMF."

According to the Commission, financial assistance on Hungary will be decided in consultation with members of the EU and the IMF.

Among the EU's new members, Hungary has the worst economic indicators. 

Hungary's public debt has reached 82 percent of economic size. In Hungary, the EU Commission expects the growth rate of 0.5 percent next year, the budget deficit to 2.8 per cent and an 11 percent unemployment rate for Hungary.

İsa Burak Gonca