Wednesday, 11 July 2012

Hungary's New Budget Plans Risky To HUF -Erste

Erste says Hungary's new budget plans are risky to HUF, pointing toward the weakening of the currency against the euro. Two weeks ago, the government announced a job-boosting scheme more than 1% of GDP in size, but many market participants have warned the financing on the revenue side of the budget is not justified, which won't likely appeal to international bodies with which Hungary is trying to secure a financing deal, Erste notes. EUR/HUF is at 287.51 with a weakening bias, Erste adds.

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