On Friday 5 October 2012 the Government of Hungary published its latest package of draft measures, formerly introduced measures as well as the updated macro economic outlook which takes into consideration the aforementioned measures and a different economic growth prospect in its Progress Report in order to fulfill recommendations proposed by the EU Economic and Financial Affairs Council. Markets welcomed the Report which was reflected in prompt forint appreciation and a lower Hungarian CDS spread. After the announcement at 9am the forint exchange rate gained almost 1 percent against the euro thereby outperforming regional currencies.

For more details please read the attached document on the right side of the page!

(Ministry for National Economy)