"At this cost, and in this way, we do not need [a financial guarantee]," he said in a video published on his Facebook page.
Orban was referring to conditions set by the IMF on the deal. Daily Magyar Nemzet reported on Thursday that the IMF expected the Hungarian government to cut pension payments, raise the retirement age, reduce family benefits, hike personal income tax, carry out privatisations, reduce travel subsidies, slim down state bureaucracies, introduce a general value-based property tax, shrink local government spending, eliminate the banking tax as well as the planned transactions tax.

"Lawmakers of the governing parties have reviewed the conditions set by the IMF and the EU on a loan to Hungary (...) we know what is expected of us from those whom we asked for a safety financial guarantee," he said.

"The list is long, it has been published in the press," he added.

These steps are not in Hungary's interest, Orban said, adding that the Fidesz-KDNP groups authorised the government to draw up an alternative proposal for IMF/EU talks in the coming days.

"This is what we will be working on," he said.


text: mti