18 November 2012

HUNGARY / IMF : Investors May Head For The Hills...As Orban Plans To Stick Banks, Energy With High Taxes.


      Budapest is bracing for a bad stock market/currency opening Monday.
      PM Viktor Orban will apparently continue to stick banks...and also add energy companies...with high taxes...despite the IMF's wishes.
       It means that Budapest's much needed 15 billion euro loan from the IMF may languish...or perish.
        Orban has proposed his 3rd set of measures to keep Hungary's budget deficit below an EU required 3% in 2013.
        An energy utility tax will jump from 19% to 50%...punishing oil group MOL...the OTP bank...as well as the forint.