Hungary outlines reform plan, in English

Budapest, March 7, 2011 (MTI-ECONEWS) – Hungary’s National Economy Ministry on Monday published on its website a document, in English, outlining a reform plan unveiled a week earlier.

 

The government presented the Szell Kalman Plan, in Hungarian, on March 1. The plan’s aims, to reduce state debt and foster growth, were welcomed by markets, but some analysts said it lacked detail.

The English-language document can be downloaded at http://www.kormany.hu/download/b/23/20000/Hungary%27s%20Structural%20 Reform.pdf

“The programme is aimed at consolidating the Hungarian public sector by means of structural reforms, strengthening economic growth, encouraging the increase of employment and enhancing the competitiveness of Hungary’s economy,” according to the document.

The plan aims to make labour market regulation simpler and more transparent, resulting, together with economic growth, in a reduction of the number of unemployed by 100,000 in 2012, 200,000 in 2013 and 300,000 in 2014.

 (HUF 100 = EUR 0.3685)