Hungary’s ruling Socialists have started the search for a new Prime Minister to tackle the country’s economic and financial crisis.
Ferenc Gyurcsany quit saying he wanted to help Hungary ease itself out of the worst recession in at least 16 years. His successor, who will need opposition support, is set to be elected on April 14 by parliament. Hungary became the first European Union country to secure an International Monetary Fund-led bailout when it lined up 20 billion euros last year to avert economic collapse According to its central bank the economy will contract 3.5 percent this year. The outgoing Prime Minister Ferenc Gyurcsany had little choice to stand down as his government’s popularity plummeted. The Socialists will hold an extraordinary party congress on April 5th when they will name their new candidate.