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Varga says 2010 deficit could reach 7%-7.5% of GDP

Hungary's general government deficit could reach 7%-7.5% of GDP in 2010, Mihály Varga, who is heading a review of the country's financial position for the new government, said in an interview with Hungarian public television.

Varga called a deficit estimate of 7%-7.5% of GDP “realistic”.

Hungary currently targets a 3.8%-of-GDP deficit for 2010.

The new government's economy minister, György Matolcsy, said at the beginning of May that the deficit could reach 4.5%-6.5% of GDP in 2010. (MTI – Econews)