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Budapest is on the way to missing its 2008 budget deadline, says the commission (Photo: European Commission)

Hungary under fire for budget fiasco

The European Commission has criticised the Hungarian government for failing to take measures to cut its budget deficit, expected to hit 6.1 percent of GDP this year.

The commission on Thursday (20 October) called on the bloc's ministers to send another wake-up call to Budapest - the second within one year - as its action so far proved insufficient to reduce the state deficit to 3.6 percent in 2005 and 2.9 percent in 2006, as earlier projected.

"The substantial deviation, both in 2...

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Budapest is on the way to missing its 2008 budget deadline, says the commission (Photo: European Commission)

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