Hungary sees new IMF-EU deal in early 2012

BUDAPEST: Hungary's government expects to sign a new agreement with the International Monetary Fund and the European Union early next year, the Economy Ministry said in a statement on Friday.

"The Hungarian economy is financed from the market, we do not depend on anybody's good will," the ministry said, adding that it wanted to use all available tools to rekindle economic growth.

"Therefore, the government has started talks with the IMF and the EU about a new agreement that, instead of austerity measures, will aid Hungary's economic growth.

It said the new agreement was expected to be signed in the first months of next year.

The IMF's representative in Hungary was not available for comment.