Hungary may use excess pension fund income to reduce debt

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HUNGARY - Hungary would use excess budget income from private pension portfolios returning to the state to reduce government debt, said Gyorgy Naszvadi, a state secretary in the Economy Ministry.

The government drafted the 2011 budget with a plan to attract 530bn forint ($2.7bn) worth of assets from the pension funds, which will go toward cutting the budget deficit, Naszvadi told reporters ...

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