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Europe Daily Bulletin No. 9029

17 September 2005
Contents Publication in full By article 16 / 51
GENERAL NEWS / (eu) eu/emu
Almunia says Hungary will not be able to reduce its excess budget to below 3.6% GDP this year

Brussels, 16/09/2005 (Agence Europe) - European Economic and Monetary Affairs Commissioner Joaquin Almunia said on Friday that Hungary would not manage to keep its pledge of reducing its excess deficit to below 3.6% GDP as set out in its convergence programme for 2005. Almunia said at a debate at the Hungarian Science Academy that following discussions with the Hungarian prime minister and finance minister, it was obvious that the target of cutting the deficit to less than 3.6% of GDP would...

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