Gov't sector deficit set to rise in tandem with GDP

Debt

Image by Shutterstock.com

Hungary has raised its targets for the government sector deficit and GDP growth in 2021, while keeping the deficit relative to GDP unchanged at 7.5% in a report prepared by the Central Statistical Office (KSH) in the framework of an Excessive Deficit Procedure (EDP), according to a report by state news wire MTI.

The report shows a 2021 government sector deficit target of HUF 4.079 trillion, raised from a target of HUF 3.86 tln in an EDP report KSH submitted to Eurostat in the spring.

The fresh report puts GDP at HUF 54.36 tln, over the HUF 51.348 tln target in the spring report.

The updated report puts gross consolidated government sector debt at HUF 43.195 tln at the end of 2021, equivalent to 79.5% of GDP.

More Companies Take Action Against Corruption Analysis

More Companies Take Action Against Corruption

Karácsony Still Winner of Budapest Mayoral Election After Re... Elections

Karácsony Still Winner of Budapest Mayoral Election After Re...

2 Major Ground Handlers at Budapest Airport Join Forces Transport

2 Major Ground Handlers at Budapest Airport Join Forces

Summer Camp Prices Have Increased 10-15% Tourism

Summer Camp Prices Have Increased 10-15%

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.