15/12/2011:

Mihály Varga, state secretary at the Prime Minister’s Office, said on Tuesday he could imagine the IMF/EC granting Hungary a 15-20 billion euro credit line with a three to four-year term. In an interview with local news portal origo.hu he said he expects the aid talks to be concluded swiftly.

Varga said the fiscal adjustment need in 2012 is HUF 100-200 billion, but he does not expect the Hungarian economy to slip into recession next year. The former finance minister also said the cabinet will need to reach an agreement not only with the International Monetary Fund but also with the Hungarian Banking Association (on the early repayment scheme). Meer informatie