Another False Dawn At The Finance Ministry

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Yet the situation that Hungary now finds itself in is not novel: in February 2004, Tibors Draskovics replaced Csaba Laszlo as head of the finance ministry, in a move that that was seen as symbolic of the renewed commitment of the ruling Socialists to spending reform. But optimism over future fiscal performance was soon defeated by the hard facts, as Hungary's publicly-reported spending imbalance exceeded original targets, revised targets and even risked exceeding revisions to those revised targets. Eventually, Draskovics befell the same fate as