Foreign Minister János Martonyi has expressed his confidence regarding the European Commission’s decision next Wednesday on lifting the excessive deficit procedure (EDP) launched against Hungary in 2004.

Martonyi told MTI before a conference in Budapest on Friday, that based on information through several channels a positive answer is expected at the meeting next Wednesday.

„Let us wait for Wednesday, when the Commission publishes its proposal, and then for the Council to make the final decision in June. I myself am optimistic,” he said.

News website Bruxinfo reported on Friday, without giving its source, that it is certain the European Commission will propose lifting the EDP against Hungary, which makes it likely that Ecofin will decide to end the procedure at its June 21 meeting.

Lászlo Parragh, President of the Hungarian Chamber of Commerce and Industry, said at an economic forum in Brussels late on Thursday that it would cost Hungary more than 100 billion forints (EUR 346m) annually if it failed to exit the EDP this year. At the forum of the Hungarian Economic Club in Brussels, Parragh said he had heard reassuring opinions from European Commission officials regarding next Wednesday’s decision.

(MTI, Ministry of Foreign Affairs)