Gov’t official puts deficit as low as 1.4% of GDP this year

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Hungaryʼs general government deficit could be as low as 1.4-1.5% of GDP this year, Péter Benő Banai, state secretary for public finances at the Ministry for National Economy, said at a press conference on Friday, according to Hungarian news agency MTI.

Hungaryʼs government recently lowered its official deficit target as a proportion of GDP from 2.0% to 1.7%. The measure came after fresh data showed the budget was practically balanced at the end of September. 

Banai noted that interest expenditures are down about HUF 300 billion this year, while more than HUF 240 bln in earlier approved funding is flowing in from the European Union.

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