IMF warns of “serious consequences” on public finances

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The International Monetary Fund (IMF) warned in a statement published on Tuesday that Hungary's economy could suffer "serious consequences" if the state of its public finances continues to deteriorate.

"The state of public finances - epitomized by endemic deficit overshooting - is undermining economic stability and growth prospects," the statement said. Persistently large fiscal and current account deficits, rising public and external debt, and increasing foreign-currency mismatches have been noticed by foreign investors, and a worsening of global sentiment could result in "serious consequences", the IMF said.

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