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Economy minister foresees deficit reaching zero

History

Hungaryʼs general government deficit is expected to shrink further in 2016 and could reach zero ‘in the foreseeable future’, Hungary’s National Economy Minister Mihály Varga said late yesterday on state-owned all-news channel M1.

Earlier yesterday, Varga said at a press conference that last year’s deficit, calculated according to European Union rules, reached about 2% of GDP, well under the 2.4% target.

The minister told the channel yesterday evening that he expects the gap to be under 2%.

Hungary must strive to balance its budget, he said, noting that Germany and a few of the Baltic states have already achieved this goal, Hungarian news agency MTI reported today.

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