Early euro would reduce risk for Hungary, says minister

"Hungary needs to adopt the euro as quickly as possible," Bajnai said, but added that the European Union's eligibility criteria must first be met. 

The country should make radical steps to improve its employment rate, which stands at a mere 57 percent, the minister said. 

He also said that in the short term a 3-4 percent surplus in primary balance should be achieved in public finance, to be increased to 3-5 percent in the long run, in order to restore international confidence for Hungary. 

Bajnai noted that some 30,000 Hungarian employees had been laid off since last October, however, 10,000 new jobs were also created. 

To mitigate effects of the global crisis, the government has initiated programmes worth a total of 5 billion euros, 2 billion euros of which were now available for Hungary's businesses, Bajnai said.