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Hungary Says New Agreement With IMF, EU Will Accelerate Growth

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Nov. 18 (Bloomberg) -- Hungary’s Economy Ministry comments on the country’s negotiations about a “new type” of cooperation with the International Monetary Fund and the European Union.

The ministry made the comments in an e-mailed statement today.

“The Hungarian economy has been financed from market resources; we do not depend on the goodwill of others. The age of renewal has now ended and the age of growth is about to begin. To this end, we have to utilize each possible instrument.

‘‘In order to achieve this objective, the Government has commenced negotiations with the International Monetary Fund and the European Union about establishing a new type of cooperation which could promote Hungarian economic growth instead of austerity measures.

‘‘The new agreement is expected to be finalized in the first months of next year.’’

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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