Hungary is waiting for arguments from the European Union on disputed laws and when they are convincing, the government will be ready to consider modifying the legislation, Prime Minister Viktor Orban said on Thursday.

Orban, whose conservative government is preparing for talks with the International Monetary Fund and EU on a new funding deal to avert a market meltdown, said Hungary would continue to finance itself from the market after securing a backstop from lenders.

"Our general approach is that we are open and flexible, we are ready to negotiate all the points but what we need is not political opinion but arguments," he told a small group of reporters in English.

"And when the arguments on behalf of the EU are convincing that it's better to accept and follow that line, there is no reason not to do that."

Orban said this year Hungary's budget deficit would be below 3 percent of gross domestic product without any extraordinary measures, for the first time since it joined the EU in 2004.

"I am sure that after an agreement with the IMF we will be able to stay on the financial market because the agreement with the IMF is not (in order) to leave the financial markets," he said.

"So if we are able, when we are able to stay on the financial market and at the same time we have the financial background of the agreement with the IMF, so when this package is put together, the economy can move towards stronger economic growth."

"And my best case scenario is that in one month, after one month, the main subject relating to the Hungarian economy is not how to finance the economy, but how successful the growth plan could be."

(reuters.com)