July 1st, 2009

IMF says early elections possible as slump deepens

By Hungary Around the Clock

There is a chance that early elections will be held in Hungary due to political instability, the International Monetary Fund (IMF) said yesterday in a statement summing up the fulfilment of conditions for the loan it extended to Hungary.

The prospects of the Hungarian economy have worsened due to the further slump of the external environment, the IMF underlined. The fall of Hungary’s GDP could be higher than earlier anticipated, while the employment market landscape and the fall in trade turnover are a cause for concern.

Tax revenues will be much lower than predicted, it added.

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4 Comments

  1. fabian says:
    July 1, 2009 at 10:33 am

    The shit gets deeper by the day….

  2. Viking says:
    July 1, 2009 at 12:14 pm

    fabian,
    As a pig farmer you should know.

  3. Godot says:
    July 1, 2009 at 12:42 pm

    Viking, as a piece of turd yourself, you ought to know best.

  4. Rolrox says:
    July 2, 2009 at 8:32 am

    So, did the IMF not do its homework when it lent the money to HU? And now it has realized that the macros as well as a mandate from the populace are not so good?

    Bajnai needs to go on a charm offensive if he wants to last out the natural term and sway the IMF to believe in his strategy.