Economics
Hungary Pours Cold Water on Stimulus Speculation as Risks Deepen
- Market turmoil forces shift to deficit cuts, minister says
- Varga sees Hungary meeting economic growth, deficit targets
This article is for subscribers only.
Investors expecting the injection of big-ticket fiscal stimulus from Hungary’s newly elected government are going to have to wait, Finance Minister Mihaly Varga said.
The economic turmoil roiling markets from Argentina to Italy and Turkey has shifted the focus of Prime Minister Viktor Orban’s cabinet. It’s now prioritizing cutting the budget deficit and reducing a debt pile that’s one of the largest in the European Union’s eastern wing, veering away from a plan Varga floated to bolster economic growth earlier this month.