Hungary's government said on Saturday it aimed to meet this year's budget deficit target, seeking to draw a line under "exaggerated" talk of a possible Greek-style debt crisis that unnerved global markets a day earlier, Reuters reported. State secretary Mihaly Varga, the official leading a review of the country's public finances, said Hungary's previous socialist governments had hidden the true extent of the fiscal shortfall, and that additional measures would be needed to reach the 3.8 percent of GDP goal agreed with international lenders. Analysts welcomed the government's intention to meet the target, which they said should calm markets somewhat on Monday, though details were needed and any tax cuts should be offset by spending cuts. The market consensus for this year's deficit is 5 percent . They also said the government would need to work hard to restore credibility in its policies following a spate of contradictory comments on fiscal issues. -- SPA
