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

Debt

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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.

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