Hírcsatornák
Kinyomtatom
Elküldöm
The budget has to be balanced, reforms are essential - but the approach adopted, and the person of the prime minister are secondary, according to David Heslam, joint director of Fitch Ratings, the largest European ratings agency.
The coalition claims its approach is the only way of implementing the convergence programme that the EU accepted last Friday. Do you agree?
You have no alternative to cutting the budget deficit and carrying out reforms. But these reforms can be carried out in a number of different ways. Ference Gyurcsany is only offering one possible solution. Transparency has been improved with the government's decision to place items like motorway building on the central budget. The important things is that the professed aims should appear genuine. We stick to the criticism we made in June, that it is no good if the government's savings measures focus on increasing revenues while doing nothing about expenditure. An excessive focus on increasing taxes might undermine the country's competitiveness.
Many have argued that Viktor Orban's latest idea, that of a National Reform Fund, is just a kind of concealed tax hike.
Without knowing the details I'm unwilling to comment on this. It is not clear where the money in this fund would come from, and, most importantly, what reforms there would be.
Is Hungary's rating going to stay the same for a while? Or could there be another change?
We always monitor developments. There is no deadline. But since the government's measures will take two years to have an appreciable impact, we don't see much reason for a change now.
Even if Ferenc Gyurcsany were forced to leave office?
Not necessarily. Our ratings depend on the circumstances. For instance, if the prime minister resigned because the government programme were collapsing. We don't look at individuals. We look at whether the government is doing what it said it would. We think reforms can be carried out with or without Gyurcsany.
KÁROLY CSABAI
Kinyomtatom
Elküldöm
