BRUSSELS, 26 Jul. (EuropaPress)
The European Union and the International Monetary Fund (IMF) have called on Thursday to Hungary more adjustments and reforms in exchange for financial assistance of up to 15,000 million euros, has asked the government of Viktor Orban to address the crisis.
Inspectors from the troika, consisting of the Commission, IMF and European Central Bank visited Budapest between 17 and 25 July to begin negotiations with the Hungarian authorities the conditions of the assistance requested last November. The dialogue is unlocked after Hungary passed a new law to guarantee the independence of its central bank, as required by the EU.
"It should be welcomed to the Hungarian government's commitment to further fiscal consolidation. At the same time, fulfill the objectives of the convergence program of sustainable and balanced way will require decisive steps," the Commission said in a statement.
In particular, the troika calls on Hungary to adopt a budget stability law because that would "facilitate the envisaged fiscal adjustment" and help control the debt. It also calls for a "stable policy", a more favorable legal environment for companies and further structural reforms to boost growth and employment.