The government is ready to discuss any comment or proposal with the European Commission in regard to the Excessive Deficit Procedure verdict.

The government of national issues is committed to amending the mistakes of the past, therefore we continue to reduce government debt and aim to maintain a below 3 percent budget deficit. In this process we hold continuous consultations with the European Commission and welcome its proposals and comments.

The government of national issues believes in performance, and numbers speak for themselves: for the first time since our EU accession, in 2011 the budget deficit will be below 3 percent. Thus we will be one of seven EU member countries to achieve this goal. Furthermore, the government has mandated Tamás Fellegi to negotiate with the IMF reiterating that the 2013 budget deficit will also be below 3 percent.

The government can achieve these results while the European economy is in turmoil and after it has inherited a grave situation from its Socialist predecessors.

We would highly welcome if during the consultations the European Commission takes into consideration the structural reforms implemented in order to permanently reduce government debt, which it has so far failed to do.

The implementation of the Széll Kálmán Plan, which was published in spring 2011, has been carried out according to schedule. The government and the parliament have put in place the approximately 80-90 percent of required regulatory changes and the 60 percent of projected fiscal improvements have also been achieved.

The monitoring and further improvement of these processes will be in the focus of the thematic government sessions in the weeks to come, which aim to continue the structural reforms announced in the Széll Kálmán Plan.

(Ministry for National Economy)