FinMin: Hungary must carry on with policies

The past decade has been the most successful period in Hungary's history, Finance Minister Mihaly Varga, who is slated to stay in office in the new government, said on Thursday, adding that the country's economic policy mix was working. Hungary must carry on with its existing policies, Varga said at a hearing before parliament's economic committee, calling for disciplined, predictable and restrained policies and a reduction of risks. Though rising inflation and energy prices and the end of the era of cheap money cause hundreds of billions of forints of stress to the state budget, the deficit target of 4.9 percent of GDP is viable, he said, adding that the public debt would be reduced further by the end of the year.