September Test

July 2006 | Risk Summary

Hungary has until 1 September to prevent a revised convergence plan to the European Commission. The Socialist-led government has overcome tough hurdles since its April election victory, passing crucial tax laws for 2007, and initiating public spending reform, with a bill to impose tuition fees from 2008. It has also declared it will freeze public sector wages from next year, with low-level trade union opposition to date. We believe the government will continue to rebuild badly damaged international confidence with its new plan this September.

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