Hungary admits budget target will be missed
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The new Hungarian government has acknowledged it will not hit its budget deficit target this year, Hungarian television reported Thursday.
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A key report on last year's clashes in Hungary criticises politicians - especially the main opposition party.
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BUDAPEST, Jan 11 (IPS) - The introduction of some of the most wide-ranging  austerity measures in the recent history of Central-Eastern  Europe is forcing Hungarians to endure a period of hardships, but  an opposition-initiated referendum and the resistance of the  middle classes are endangering the socialist government's  plans.
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By David ChanceBUDAPEST - Hungary's Prime Minister Ferenc Gyurcsany apologized on Wednesday for the tone of a leaked speech in which he admitted lying about the parlous state of the economy to win April's ...Comment
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The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004
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The government is in danger of missing its target for new homes to be carbon neutral by 2016, it is warned.
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Before accepting the post of Hungary&#39;s sports minister last year, Ferenc Gyurcsany held a press conference where he laid bare his finances.
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Gyurcsany needs coalition support to keep his career alive The Hungarian parliament is due to hold its first full debate on the events of the past three weeks in Budapest followed by a vote of confidence.Comment
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Hungary investigates recent street clashes that shocked the nation - but critics fear the inquiry will lack weight.
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BRUSSELS : European Union finance ministers wrestled with a proposal to overhaul an ineffective set of budget rules, but faced with lingering differences they postponed concrete action until January at the earliest.
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Hungary's Prime Minister Ferenc   Gyurcsany apologized on Wednesday for a leaked speech in which   he admitted lying about the parlous state of the economy to win   April's election.
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Ukrainian First Deputy Prime Minister and Finance Minister Mykola Azarov said the state budget has failed to receive about 1.15 billion hryvni in revenues due to the current political crisis.
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Hungaryâs central bank unexpectedly cut its benchmark interest rate, the European Unionâs highest, for the first time since 2005 after inflation slowed. Policy makers, led by the central bankâs governor, Andras Simor, left, cut the two-week deposit rate a quarter-point, to 7.75 percent, after holding it since October. A leveling of wage growth also persuaded rate setters to lower borrowing costs, Mr. Simor said. Hungaryâs annual inflation rate has quadrupled in the last year as Prime Minister Ferenc Gyurcsanyâs government raised taxes and utility bills. Inflation excluding food and energy prices slowed for a second month in May, and an easing of pressures in the labor market reduced concern that prices would rise faster than the inflation target in the medium term.
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JERUSALEM - Israel&#39;s parliament voted against the state budget yesterday, triggering a political crisis that could topple Prime Minister Ariel Sharon&#39;s government.
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BUDAPEST, Feb 14 (IPS) - By pulling down the barriers that protected the  national parliament from possible protests,  150 deputies from  the Hungarian right-wing opposition Fidesz warned the government  just  how tense Hungarian society remains.
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Hungary is determined to stick to its  new euro plan, endorsed by the European Commission on Tuesday,  after years of huge budget deficits derailed earlier hopes to  join the euro, Prime Minister Ferenc Gyurcsany said.
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Taiwan's Foreign Minister warned lawmakers on Wednesday that ties with Washington would be hurt if parliament failed to approve an &#36;18 billion budget to buy advanced U.S. weapons.