"With this measure, we achieved more than HUF 1 trillion in savings, so Hungary is better prepared to face global economic risks," Varga said.

The government earlier decided to postpone HUF 755 bln of investments scheduled for this year, while also reducing the general government deficit target, relative to GDP, to 4.9% from 5.9%.

"We will not allow Hungary to be dragged into this war," Varga added to his post.