topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2119.44 0.28
DAX 6339.94 0.38
IBEX 30 6543 0.13
CAC 40 3047.94 0.32
FTSE 100 5351.53 0.03
AEX 292.76 0.23
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13154.8 0.36
TSX Composite 11576.47 0.09
ASX 4081.2 -0.61
Hang seng 18713.41 0.25
Straits Times 2772.75 -0.24
ISEQ 20 500.94 1.55
You are here: Home News European News Hungary to close embassies to cut spending

European News

archive
Enlarge font Decrease font Text size


17/06/2009Hungary to close embassies to cut spending

Hungary will close four embassies and eight consulates, including consulates in Hong Kong, Sydney, Chicago and Düsseldorf.

Budapest -- Hungary is closing four embassies and eight consulates around the world to cut state spending, Foreign Minister Peter Balazs announced on Tuesday.

"With the reorganisation, the ministry will save two billion forint (7.0 million euros, 10.0 million dollars) annually," Balazs told a press conference.

The belt-tightening concerns only one embassy in Europe, in Luxembourg, one in Malaysia and two in South America.

Hungary will meanwhile close eight consulates, including in Hong Kong, Sydney, Chicago and Düsseldorf, Germany.

Hungarian delegations to various international organisations will also move to shared offices in Vienna, Paris and Geneva, Balazs said.

Hit severely by the global economic crisis, Hungary averted bankruptcy only through a massive international bailout package last October.

In exchange for the International Monetary Fund-led 20-billion-euro lifeline, the state has to carry out a string of spending cuts pledged to reach 1.3 trillion forint (4.6 billion euros, 6.4 billion dollars) during 2009 and 2010.

AFP/Expatica


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Community Noticeboard Belgium

Car Boot & Second-hand Book Sale

Community Noticeboard Belgium

Holiday appartment for rent @Côte d´Azur (French Riviera)

American in Belgium

BUY NOVELTY DRIVING LICENSE,ID CARD, PASSPORT

Discuss Belgian Culture

BUY NOVELTY DRIVING LICENSE,ID CARD, PASSPORT

Belgian News

BUY NOVELTY DRIVING LICENSE,ID CARD, PASSPORT

participate in the forums

Inside Expatica
Looking for work in Belgium

Looking for work in Belgium

This handy guide from Expertise in Labour Mobility includes how to write a CV, application procedure, interview dos and don'ts, Belgian management culture.

Practical, easy-to-use, free and... in English

Practical, easy-to-use, free and... in English

Belgium’s first alternative directory assistance services - available through the shortcode 14-14 - can now be accessed on the internet.

Finding a rental home in Belgium

Finding a rental home in Belgium

Moving to Belgium presents a host of challenges to expats, not least of all finding the right home.

Learning to cope with life abroad

Learning to cope with life abroad

The psychological effects of global mobility can be physically painful.