The economic and political consequences of the activity of the Bajnai-government

Gősi, János and Gál, József: The economic and political consequences of the activity of the Bajnai-government. Review of faculty of engineering : analecta technica Szegedinensia 1-2. pp. 72-76. (2011)

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Abstract

The international financial and real economy crisis reached Hungary in the autumn of 2008. The crisis made the completion of the state budget and the convergence for the year 2009 very difficult and the continuation of the program according to the plan because the economic recession spoilt the budget After Gyurcsany Fcrcnc's resignation, on 16 April, 2009, the new government was established led by Bajnai Gordon. The main task of the Bajnai-government was to carry out the 20 billion Euros credit conditions receiving it from the IMF and the EU, so despite of the 6-7% economical reduction of the year 2009. which meant that the GDP-proportional budget deficit should stay under 4% in the years of 2009 and 2010, too. The Bajnai-govemment reduced the budget expenditures with 400 billion HUF in 2009, and in 2010 reduced with 900 billion HUF. and started to rationalize the tax system.

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