MNB puts 2016 deficit at 1.6% of GDP, if reserves not spent
The National Bank of Hungary (MNB) projects Hungaryʼs government deficit will reach 1.6% of GDP this year, if fiscal reserves in the Country Protection Fund are preserved, a quarterly report released today shows, according to Hungarian news agency MTI.
If the HUF 70 billion fund is tapped, the deficit could reach 1.8% of GDP, the MNB said in its latest Inflation Report.
The projection is under the official government target of 2% of GDP.
The MNB puts next yearʼs deficit at 2.4% of GDP, in line with the government target, though it assumes the full cancellation of the Country Protection Fund.
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