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

Telco

shutterstock

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.

ADVERTISEMENT

Business, consumer sentiment improve in January Analysis

Business, consumer sentiment improve in January

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New leasing and sales director at Horizon Development Appointments

New leasing and sales director at Horizon Development

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.