Publication: Magyar Közlöny
Issue: MK-2008-169 (Year: 2008, Number: 169)
Era: 2004-2010
Section: 214/1996. (XII. 23.) Korm. rendelet, valamint az azt módosító 191/2003. (XI. 26.) Korm. rendelet és 79/2005.
Paragraph Index: 267

1. On 4 November 2008, the Council of the European Union adopted a decision to make available to Hungary a medium-term financial assistance of up to EUR 6.5 billion. The assistance will be provided as a medium-term loan („the Loan”) under the balance of payments facility for Member States (based on Article 119 of the Treaty and Regulation No 332/2002) and in conjunction with loans from the International Monetary Fund of SDR 10.5 billion (around EUR 12.5 billion) supported by a Stand-by arrangement approved on 6 November 2008 and from the World Bank of EUR 1 billion. The EU financial assistance is provided in support of the new comprehensive economic policy programme adopted by the Hungarian authorities in the last week of October 2008 to restore investor confidence and alleviate the stress experienced in recent weeks in the Hungarian financial markets. Relevant elements of this policy programme were already included 2008/169. szám in the legislative amendments to the draft budget submitted to Parliament on 2 November. By supporting the sustainability of Hungary’s balance of payments, the assistance will help the country to continue and enhance the fiscal consolidation efforts started in mid 2006 and to make progress with fiscal governance, financial sector regulation and supervision reforms and other measures to support a prudent, stability-oriented, and sustainable economic policy.

Source: https://magyarkozlony.hu/hivatalos-lapok/4c11cb38ce6bdd4730cbd9405ce0a85e8fc50b32/dokumentumok/570a9ec392485b0a9748011d99d4041fa9bed95b/letoltes