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Varga cuts 2022 deficit target to 4.9% of GDP

Debt

Image by Alexandros Michailidis / Shutterstock.com

Finance Minister Mihály Varga on Friday said next year's general government deficit target can be reduced to 4.9% of GDP as the economy is expected to expand more than 5%, according to a report by state news wire MTI.

Varga was speaking at the presentation of the 2022 financing plan of the Government Debt Management Agency (ÁKK).

Lawmakers assumed an ESA deficit of 5.9% of GDP and GDP growth of 5.2% when they approved the 2022 budget act.

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