Publication: Magyar Közlöny
Issue: MK-2009-86 (Year: 2009, Number: 86)
Era: 2004-2010
Section: 2007. évi CVI. törvény módosításáról*
Paragraph Index: 12

3. In February 2009, a first review mission was carried out by the Commission services in cooperation with the IMF staff. Also based on a compliance statement provided by the authorities, the Commission services concluded that the conditions linked to the release of the second tranche of the Community loan of EUR 2 billion were met. Moreover, in the light of the deteriorated growth outlook for 2009 from –1% expected at the beginning of the Government’s programme in Autumn 2008 to a contraction of 3 to 3.5% expected at the time of the mission, it was agreed that that, in spite of the additional expenditure-based measures of 0.7% of GDP, the deficit target for 2009 would have to be slightly revised upwards 2009/86. szám from 2.6% of GDP to 2.9% of GDP. This revision of the target as well as a number of additional economic policy conditions linked to the savings and structural measures announced by the authorities and to further commitments in the area of financial sector reform were laid down in a Supplemental Memorandum of Understanding. Following the consultation of the Economic and Financial Committee, this first Supplemental Memorandum of Understanding was signed on 11 March and the second instalment of EUR 2 billion was disbursed on 26 March.

Source: https://magyarkozlony.hu/hivatalos-lapok/5d32fd5ce33f88d741755e44e13040d2e9fa114b/dokumentumok/8cb6ae986331daa0ef5ea535a064d84aed7bccf9/letoltes