Hungary’s New Constitution to Impose Debt Limit, Szajer Says
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Hungary’s new constitution will impose “strict” rules to guarantee a gradual decline in the state’s debt and make public finances “sustainable,” said Jozsef Szajer, a ruling party deputy in the European Parliament.
The government won’t be allowed to take loans or liabilities which increase debt from the previous year or push it above 50 percent of the previous year’s gross domestic product, according to a draft constitution posted on parliament’s website today.