Hungary submits more cautious euro plan

Ferenc Gyurcsany, Hungary's Prime Minister, released a medium-term fiscal and economic plan, 22 August 2006, with figures slightly worse than an earlier version and jolted the currency.
Formally, this was the annual updated 'convergence report', submitted to the European Commission, which is one of Hungary's obligations under the Stability and Growth Pact, an annual update of the convergence programme it first presented in 2004. The European Commission first assesses the update, after which the Council adopts an Opinion on the basis of a Commission recommendation. Find the updated convergence programmes, the Commission assessments, DG ECFIN's working documents (expanded assessments) and the Council opinions can all be accessed via the related url.

European Commission: DG Economic and Financial Affairs: Country pages: Hungary http://ec.europa.eu/economy_finance/about/activities/countryeconomy/hungary_en.htm

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