He said that Hungary would consult and negotiate with everyone but an agreement with the EU was of primary importance.

    To a question on the possibility of a new precautionary deal with the IMF for 2011 and 2012 Orban said this matter was insignificant now, as the main issue was to reach a deal with the EU on bringing the budget gap below 3pc.

    "Our talks with the EU are not over. Hungary is a member of the EU and all member states in the EU have undertaken to reduce their deficits below a certain level, namely 3 percent. Hungary's deficit today based on this year's target is 3.8pc, and we will achieve this", the prime minister said.

    "But with this, the talks have not ended as the EU wants to negotiate with us, as well as 20 other member states in the EU, on how we will manage this 3 percent deficit. Hungary will be part of these negotiations. This is called an Excessive Deficit Procedure. We want to agree with the EU. This is not going to be a deal between Hungary and the EU, but a deal signed by all member states, specifying when countries above the desirable deficit level bring their deficits below 3pc. We will negotiate this agreement along with the other member states and as part of a budget policy based on equal treatment, bring our deficit below 3pc. Hungary has a good chance for this as in terms of the deficit we are the fifth or sixth best performer (in the EU)", Mr Orban said.

    "The Hungarian economy can boldly undertake this position in talks with the EU. We will have a single demand, namely that of equal treatment, that is, the same timeframe must be set for all to meet the EU's expectation. In the next few weeks and months Hungary will hold talks with the EU ..., and the IMF, as it has ended its mission and the agreement has expired, will deal with countries in need of the IMF's direct support", the prime minister said.

    "We hope economic growth next year will be above 2pc ... and we plan further tax cuts that will boost the economy, so we have a good chance that, based on the agreements with the EU, Hungary will again become a successful country", the prime minister went on.

    When asked if Hungary intends to seek a new IMF deal, Mr Orban said that "the important question is an agreement with the EU, everything else is secondary or insignificant. We want to talk with everybody, we want to consult with everybody, in our mind the IMF is by far not the devil incarnate, we are happy to talk to them as well. But we must agree with the EU. Let me stress, it is not 'should', but 'must', and we must agree on terms that the Hungarian people deserve".

    "If we agree with the EU and it becomes clear that it will be easier for us than for other states to achieve the 3pc deficit, that will strengthen Hungary's credibility in markets to an extent that will make debt financing easier", Mr Orban said.

    The prime minister stressed that "in 2011 and 2012 we must pay back the money we got from the
IMF. The Hungarian economy must be strong enough to do that and it will be strong enough. What Hungary needs is a uniform European agreement based on equal treatment, applicable to all member states exceeding the deficit level. Until this agreement is reached, it would be unwise to speak about levels and timeframes, moreover, it would be irresponsible."

    Mr Orban said that Hungary is thankful to the IMF for "its great help that was not a present but a loan", and Hungary will always appreciate the cooperation with the IMF in the past years. The stand-by agreement with the IMF, however, "will expire in October, so there is no need to break off or sign off anything", the prime minister said.