Veres optimistic on deficit developments

Interview

Hungary’s state deficit will be lower than the 6.2% of GDP last forecast by the government, Finance Minister János Veres said at a press conference last Friday.

The government’s convergence plan originally estimated a 6.8% deficit, while analysts expect an average 6.1% figure for 2007. Estimated numbers for the budget of 2009 and 2010 will be published by the end of February 2008, the Finance Minister said adding that state budgetary targets included in the convergence program are feasible for the following years. Next year’s goal is 4%. Lawmakers will vote on Dec. 17 about the 2008 budget bill, Veres said. The government will present its plans for the 2009 and 2010 budget figures in February, he added. The central bank, the EU and economists have said the government needs to do more to meet deficit targets after next year. Gyurcsány wants to meet the EU’s 3% target by 2009. (Gazdasági Rádió, Bg)

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