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Image header Agence Europe
Europe Daily Bulletin No. 10664
ECONOMY - FINANCE - BUSINESS / (ae) hungary

Start of international aid talks

Brussels, 26/07/2012 (Agence Europe ) - On Thursday, the Hungarian government said it might reach agreement with the EU and IMF on a loan of some €15 billion by the end of the autumn. The Hungarian negotiator, minister without portfolio Mihaly Varga, said as much on Hungarian radio station MR1. Varga said that the potential stumbling blocks in the talks were central bank taxation by means of the recently introduced financial transactions tax in Hungary, the top-heavy civil service and how the government compiles its macroeconomic forecasts. Vargas said everyone agreed that the foundations of the 2013 budget needed strengthening, but did not necessarily agree on how to achieve this. He said the government was prepared to be flexible about the central bank tax, if necessary. Despite these areas of disagreement, the negotiator said the first round of talks in Budapest (17-25 July) had been productive. (SP/transl.fl)

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