According to Wall Street Journal’s European edition, investors should keep a close watch on Hungary’s budget deficit, after its January-May shorfall exceeded the governments full-year deficit target by 5.4%.
The June deficit may even reach HUF 352 billion, the newspaper estimates, given the deficit for the first five months of the year was HUF 724.2 billion ($3.97 billion) and the country’s revised first-half deficit target is HUF 1.96 trillion. The economy ministry revised its quarterly deficit targets upward in June to reflect the government’s purchase of a stake in Hungarian oil and gas company MOL, although it left its 2011 deficit target unchanged.
Hungarian industrial output data are expected to confirm that German demand for Hungarian goods remains robust as exports continue to drive growth. Output is forecast to have risen in June by 7.2% on the year, five analysts polled by Dow Jones Newswires said, a slight slowdown from a 9.7% increase in the previous month.
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