Hungary is planning to tap international bond markets again this year as the U.S. Federal Reserve’s decision to maintain monetary stimulus helps boost demand for debt, Economy Minister Mihaly Varga said.
Hungary’s government, which faces elections in a year, wants to raise taxes including on financial transactions and phone calls and wants banks to pay into the budget 7 percent of municipal loans the state assumed.
The International Monetary Fund “needs to change its position” on Hungary’s budget gap, which may be twice the target approved by the lender for this year, said Mihaly Varga , an economy official in the new government.
Hungary’s government doesn’t expect the International Monetary Fund and the European Union to set stringent conditions during talks on financial aid, Mihaly Varga, the country’s chief bailout negotiator, said.
Hungary’s next government found “skeletons” in the budget of the outgoing administration that will lead to an overshoot of this year’s deficit target, said Mihaly Varga , deputy chairman of the election-winning Fidesz party.