Varga Puts 2024 Budget Deficit at 4.5% of GDP
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Finance Minister Mihály Varga said the government aimed to bring the general government deficit under the 3%-of-GDP Maastricht threshold by 2026, speaking at the year-opener of the Hungarian Chamber of Commerce and Industry (MKIK) on Monday, according to a report by state news wire MTI.
He said the government targeted a deficit of 4.5% of GDP in 2024, 3.7% in 2025 and 2.9% in 2026.
He said Hungary's state debt level, relative to GDP, needed to continue to fall.
He added that Hungary's significant debt servicing burden would decline with disinflation and an improvement in the interest rate environment.
Varga noted that the financing of Hungary's state debt now stood on "more stable, more secure" foundations, with 22% of the total in the hands of local, retail investors, up from just 3% in 2010.
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