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MNB sees no need to publish updated fiscal forecast

Initiatives

The National Bank of Hungary (MNB) sees no need to publish a revised fiscal deficit forecast in light of the government's updated convergence plan before the next Inflation Report due in June, the MNB press department told Econews. Based on the government's convergence program, sent to Brussels on April 16, the expectations of the National Bank of Hungary (MNB) and the government have got considerably closer regarding specific revenue and spending items, the press department said. Although the convergence program did not contain any additional fiscal measures, it identified several deficit-increasing effects – mainly stemming from less revenue – which were earlier noted as risks by the MNB although they were contained in the Budget Act.

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