I supect that this is also the case with the emerging epidemic of governments who cooked the books. Hungary is the latest culprit, and its official pronouncements are starting to sound, well, worryingly Greek:
The previous government, which pledged to narrow the budget gap to 3.8 percent of gross domestic product this year, "manipulated" figures and "lied" about the state of the economy, Szijjarto said.Thankfully, Hungary's debt-load is not as high as it was in Greece. But we can't rule out the possibility that more of these "earnings restatements" may be coming down the road, as governments run out of creative ways to fudge their figures.
A fact-finding panel appointed by Orban's government will probably present preliminary figures on the state of the economy this weekend, Szijjarto said. The government will publish an action plan within 72 hours after the committee reports its findings, he said.
"We need a clean slate to formulate our economic action plan, and the fact-finding committee will provide just that."
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