In view of the global financial crisis and Hungary's special position, the Minister for National Development, Tamás Fellegi, argued for a redistribution of burdens and risks in his address made at the American Chamber of Commerce in Hungary on the 13th of September, 2011.

As all business burdens, risks and losses have primarily been borne by the people and the government so far, the Government now endeavours to shift a proportionate part of these to the corporations. This was the purpose of the recently announced and of upcoming government measures: these make it repeatedly clear for the participants of the economy that the period of guaranteed and certain return, earned irrespectively of the economic conditions, is over - the minister explained.

The Government's clear intention is that the complete reorganisation of the country should lead to a new era, a period of increase and progress. Hungary was capable of reaching remarkable economic achievements right in the middle of the global crisis. Last year, the rate of GDP-growth in Hungary approximated the average of the European Union. Similarly favourable trends are seen in the foreign trade surplus and the employment data. In addition to the organic trade growth expected in traditional markets, the strategic eastern partnerships, Russia and China will provide breakthrough opportunities.

According to the Minister's analysis, the most efficient way of reducing Hungary's international exposure is to consistently cut the government. This is exactly why the Government decided to press down debt from above 80 per cent to 73 per cent of the GDP by the end of autumn. Tamás Fellegi also reminded that setting the highest allowed ratio of government debt in the Constitution is a Hungarian example that is spreading all over Europe.

The Government will go ahead with the work started last year with an even higher vigour and cannot be diverted from its original objectives and fundamental principles. The primary aim remains the creation of a society based on work and the elaboration of a proportionate tax system, he added.

In late September Minister Fellegi will travel to the United States of America to meet prominent government officials and businessmen in order to discuss energy-related and climate policy issues in Washington.

(Ministry of National Development , Department of Communication)