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Central Bank updates budget analysis

Hungary’s ESA general government deficit could reach 3.2% of GDP in 2012, according to an update of the National Bank of Hungary’s "Analysis of the Budget" published on Tuesday.

Originally published on October 20, the analysis was updated to show the possible effects of changes to the 2012 budget bill and other measures in the period till November 30.

The 3.2% figure is just one-tenth of a percentage point over that in the original report but well over the government’s 2.5% target.

The central bank’s experts calculated with the same macroeconomic assumptions as in the October analysis, thus changes since, such as the weakening forint, could add another 0.2-0.4 percentage point to the deficit.