Hungarian gov't creates firm basis to resolve economic crisis: PM 2009-06-04 10:01:09   Print

    BUDAPEST, June 3 (Xinhua) -- The measures the Hungarian government took during its first 50 days in power have created a firm basis to resolve the ongoing economic crisis and ensure a long-term growth, Prime Minister Gordon Bajnai said Wednesday.

    At a cabinet meeting, Bajnai said the measures already showed the growing international confidence. But he added that there was still a long way to go and confidence for the country was fragile.

    "A stable majority in parliament, perseverance, consistent efforts, fast and responsible actions are what will help Hungary out of the crisis," said the prime minister.

    He said that just like during its first 50 days, the government will do its best to ensure those favorable conditions in the future.

    On April 14, Hungary's parliament passed a non-confidence motion against former prime minister Ferenc Gyurcsany and approved of Bajnai replacing him.

    Five days later, Bajnai outlined the cabinet's crisis-management program, an austerity package aimed at slashing state spending by 400 billion forints (2 billion U.S. dollars) in 2009 and by 900 billion forints (4.56 billion dollars) next year.

    Hungary's national news agency MTI quoted political analysts assaying that a fundamentally positive picture had emerged in Bajnai's crisis-management government during its first 50 days, with the foreign and finance ministries performing particularly well.

    "Over the past 50 days more has been done than during the preceding year," said Zoltan Kiszelly, a political scientist with the Academy of Sciences. "Instead of stagnation, Hungary has embarked on the road of cautious economic recovery."

    Kiszelly said Hungary had managed to regain the confidence of the international money markets, adding that the government had developed a favourable image among economic and foreign players.

    Attila Juhasz of think-tank Political Capital said the government had managed to persuade the ruling Socialists to vote for the austerity measures even if they had further eroded their popularity.

Special Report:  Global Financial Crisis

Editor: Fang Yang
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