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Oszkó says Hungary back on growth path, deficit still achievable

Hungarian Finance Minister Péter Oszkó said that the economy was on the path to growth after fresh data showing GDP growth instead of a widely expected contraction in Q1 was published.

Hungary's GDP grew an unadjusted 0.1% yr/yr in Q1 after five quarter of contraction and rose on a seasonally and working-day adjusted quarterly basis now for the second quarter after six quarters of contraction.

Oszkó said that the budget deficit target of 3.8% of GDP for this year was still within reach, adding that it was up to the incoming Fidesz government whether the target would be met. (MTI - Econews)