The Hungarian Minister of National Economy Mihály Varga announced that in order to ensure that the European Commission’s excessive deficit procedure against the country is lifted, the government will freeze HUF 92.9 billion in the 2013 budget.

Finnish electronics giant Nokia has announced the lay-off of 2,300 people from its smartphone factory in Komárom, northern Hungary. The Hungarian Ministry of National Economy and Nokia will establish a workgroup to help the laid off workers.