Publication: Magyar Közlöny
Issue: MK-2010-19 (Year: 2010, Number: 19)
Era: contemporary
Section: A Kormány 28/2010. (II. 16.) Korm. rendelete
Paragraph Index: 8

4. The Commission services carried out a second review mission in cooperation with the IMF staff in May 2009. Based on the findings of the mission and the compliance note of the authorities, the economic policy conditionality for the third instalment was considered to be overall fulfilled. In particular, satisfactory progress was made in the fiscal sphere and with structural reforms, and conditions in the area of financial sector regulation and supervision were also broadly fulfilled with some elements still in need to be finalised by the time of the review mission. Since the economic outlook had further deteriorated significantly and GDP was now expected to decline by 6.7%, the deficit target for 2009 was revised upwards by the government in the context of the mission findings from 2.9% of GDP to 3.9% of GDP. This was coupled with additional adjustment measures of 0.8% of GDP, mainly on the expenditure side, and with a commitment to further reduce the deficit to a level not exceeding 3.8% of GDP in 2010 and to less than 3% of GDP in

Source: https://magyarkozlony.hu/hivatalos-lapok/797efede7efdaeb5c0cbe3cfdcb0e66ea7acb28e/dokumentumok/fb170d51c43c4b8beb68faf2ce6d0ea6baa19848/letoltes