According to Hungary’s secretary of state Mihaly Varga, the real status of Hungary’s public finances is hidden. This implies that the country needs stronger and more effective measures to reach their target of a 3.8 percent of GDP. Last Friday, the euro reached its lowest mark in four years because many were afraid of a Hungarian debt crisis, which was even supported by the spokesman of the prime minister. Furthermore, officials were afraid and were quite certain that they will not be able to avoid the same fate that was met by Greece.

Mihaly Varga said all these comments might be exaggerated, and that it is quite possible to attain the planned deficit target. When he was asked to state any predictions or projections, he did not say anything, but instead, stated that the government of Hungary will announce an action plan after a meeting which will last until Monday.

International lenders are also playing a monumental role here, because they reached this agreement with Hungary, regarding the achievement of a 3.8 GDP by this year. Peter Szijarto, the spokesman of Hungary’s prime minister, stated that it is very likely that they will experience what Greece has experienced in terms of debt crisis, but he also mentioned that they will act very quickly against this path.