Budapest - Prime Minister Gordon Bajnai Sunday presented his new government's programme of crisis measures and public spending cuts to steer Hungary out of its economic woes.
Pensions, public sector pay and welfare payments were all cut while value-added tax was increased in an effort to relieve the national budget by the equivalent of 4.4 billion euros.
Bajnai also announced tax relief for lower-income workers in an effort to counter unemployment. "This is a crisis management programme that demands sacrifice by all Hungarians," he warned.
Vienna - Hungary's Prime Minister Gordon Bajnai expressed hope on Tuesday that his austerity package would help bolster faith in his country, as the new head of government was in Vienna for his first foreign visit. The recent measures would stabilize the economy even in case of a 6-per-cent downturn, he said at his meeting with Austrian Chancellor Werner Faymann, according to Austrian press agency APA.
Budapest - Ukraine would never cut the flow of Russian gas into Hungary or other European markets, Ukrainian President Viktor Yushchenko said on Tuesday during an official visit to Hungary. Yushchenko was speaking after a meeting with his Hungarian counterpart Laszlo Solyom, at which they signed agreements to cooperate in foreign affairs and agriculture.
Budapest - The designated economy minister of Hungary's interim government stepped down on Thursday, a day after local media reported a large fine for anti-competitive practices against his former software company.
