MNB puts 2015 general gov't deficit over target
The National Bank of Hungary estimated Hungary's general government deficit would reach 2.5% of GDP next year in an analysis of the 2015 budget bill published today. The projection is slightly over the 2.4% target in the budget bill submitted by the government.
Revenue and spending targets were "basically well-founded" but "risks do arise in some areas", the central bank said in the analysis.
The estimate assumes that fiscal reserves in the National Protection Fund will be cancelled next year, similar to previous years, the MNB said, noting that the fund was smaller, at HUF 60bn, for 2015, providing a "limited scale of coverage" for risk.
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