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BUDAPEST -- A stable economy and record foreign reserve levels have laid the basis for Hungary to take the next step towards full convertibility for its forint, the Finance Ministry said.
A harsh March austerity package has succeeded in reining in Hungary's spiraling current account and budget deficits, which were preventing a further relaxation of currency regulations, said Tamas Tetenyi, Finance Ministry deputy secretary of state.
Hungary Steps Forward
18 October 1995
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