![](https://4liberty.eu/phidroav/2012/03/forint-150x120.jpg)
photo: jeaneeem
As The Budapest Times writes the EU presented Hungary with ultimatum: either the coutry will prove to the EU that it has its budget under control until 22 June or it will lose a big share of development funds for 2013.
In order to meet the EU deficit target (below 3% of GDP) further cuts on spending are necessary. They will most probably affect mainly subsidies for transport and medicines.
![http://www.flickr.com/photos/jeaneeem/5121073437/sizes/m/in/photostream/](http://4liberty.eu/phidroav/2012/03/forint-400x259.jpg)
More about financial situation of Hungary here.