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

Finding your way in Switzerland

Trekking and Backpacking

Community Noticeboard Switzerland

Let's coach..Saturday.Free.In English.

Finding your way in Switzerland

Chinese Nanny (Ayi) wanted

Finding your way in Switzerland

Need Househelp who prepares Thai food

Student forum Switzerland

@SAP Business Objects Online Training in Netherlands by SAP BOSS

participate in the forums

Inside Expatica
Residence and work permits in Switzerland

Residence and work permits in Switzerland

How to apply for a residency or work permit in Switzerland for you and your family.

How to rent and buy a house in Switzerland

How to rent and buy a house in Switzerland

Information about renting property and obtaining a mortgage in Switzerland.

Switzerland's healthcare system

Switzerland's healthcare system

Information about the Swiss healthcare system, health insurance, pharmacies and emergency numbers.

Banking in Switzerland

Banking in Switzerland

Explaining Swiss currency, banknotes, credit cards and bureaux de change.