"Hungary’s economy could sink into stagnation and credit supply may fall significantly, the economy minister said on Thursday, adding that a “safety net” type of agreement with international lenders could shield Hungary from the turmoil in the euro zone.
Hungary broke ties with the International Monetary Fund last year and went more than a year without a financing backstop as the government used unorthodox means such as crisis taxes on banks and other sectors to shore up the budget and spur growth.
Budapest asked the Fund and the European Union for help last week after the forint currency fell to record lows against the euro in the wake of a warning by Standard & Poor’s that Hungary could lose its investment-grade credit rating".....READ MORE
No comments:
Post a Comment