Central bank says deficit may be under 2% target
The state budget deficit could be less than the 2% targeted by the government for 2016, and might even be as low as 1.6%, the National Bank of Hungary (MNB) said today in its Budget Report.
The MNB said today that it is now calculating that the central budget could have a 1.8% deficit compared to GDP this year. If, however, the full amount of budget reserves, including the country protection fund, are not used, the deficit could be as low as 1.6% of GDP, MNB reported.
The 2016 budget bill currently targets an ESA deficit of HUF 704 billion, but the MNB calculates that this could be lowered to as little as HUF 561 billion, representing a 0.4 percentage point of GDP change from the original deficit figure.
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.