Peter Szijjarto News
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Hungary plans to boost its energy ties with Russia, threatening to widen the central European country’s trade gap with its second-biggest trading partner, according to Hungarian State Secretary Peter Szijjarto.
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The forint headed for the longest series of weekly declines in almost 18 months and bond yields rose as Standard & Poor’s cut the outlook on Hungary’s junk- grade credit rating to negative from stable.
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The Hungarian government is open to more changes to the central bank law to boost the Magyar Nemzeti Bank’s independence, said Peter Szijjarto, state secretary at the prime minister’s office.
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Hungary has “a good track record” managing fiscal crises and will take the steps needed even after a government official said the country may be at risk of defaulting, according to Moody’s Investors Service.
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Hungarian bonds tumbled, pushing up borrowing costs by the most since October 2008, and the forint and stocks plunged after a government official said speculation of a default “isn’t an exaggeration.”
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Hungary’s economic performance and the government’s policy measures “wouldn’t justify any kind of credit rating downgrade,” state news agency MTI said today, citing Peter Szijjarto, the prime minister’s spokesman.
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Hungary’s economy is in a “very grave situation,” a government official said, adding to concern about Europe’s sovereign debt crisis, weakening the euro and pushing the forint to a 12-month low.
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Hungarian Economy Minister Gyorgy Matolcsy, who is also responsible for the finance portfolio, has an “extremely strong” position in the Cabinet, Peter Szijjarto, Premier Viktor Orban’s spokesman, told M1 television.
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The Hungarian Parliament’s budget committee should probe central bank President Andras Simor’s personal finances, Peter Szijjarto, Prime Minister Viktor Orban’s spokesman, said at a hearing today.
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Hungary’s government will today present new legislation to punish vigilantes wearing uniforms and engaging in unauthorized law-enforcement activity, said Peter Szijjarto , Prime Minister Viktor Orban ’s spokesman.
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