Final report on 2013 central budget published


Parliament approved the final report on the implementation of the 2013 budget with 116 votes in favor, 31 against and 13 abstentions yesterday. The final reported submitted by the economy minister said that macroeconomic trends in Hungary had been more favourable than expected and better than the average trend in the EU.

Hungary's gross domestic product (GDP) grew by 1.1%, above the 0.9% calculated when last year's budget was drafted. Inflation was lower than calculated, with consumer prices averaging 1.7% in 2013. Hungary's debt ratio, calculated under the new ESA2010 methodology, went down from 79.8% to 79.2%.

The budget deficit in GDP terms was 2.2% under EU methodology in 2013. He noted that the government had designated 2013 as a year of budget stability and entrance into a phase of economic turnaround.

It was a third consecutive year when the budget deficit was kept below 3% of economic output, due to budget discipline, the final report said. Brussels lifted the excessive deficit procedure against Hungary in June and the country made an early repayment of its IMF loan in August, the economy ministry said in its evaluation to the 2013 budget.


Czech economic confidence improves in May Analysis

Czech economic confidence improves in May

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.