Hungary puts 2021 deficit at 7.5% of GDP

Debt

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Hungary targets a government sector deficit of 7.5% of GDP for 2021, calculated according to the European Union's accrual-based accounting standards, a report submitted by the Central Statistical Office (KSH) to Euorstat in the framework of an Excessive Deficit Procedure (EDP) shows.

Finance Minister Mihály Varga said in an interview published on Wednesday that the general government deficit could reach 7.5% of GDP this year. He added that state debt could fall back under 80% of GDP.

The EDP report submitted by KSH shows a targeted government sector deficit of HUF 3.86 trillion and GDP of HUF 51.348 tln for 2021.

 It shows an estimated government sector deficit of 8.1% of GDP for 2020.

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