Orban Boosts Hungary’s Budget Deficit, Sidelining Parliament

Hungarian Prime Minister Viktor Orban issued an executive decree that overhauled the country’s 2023 budget, enlarging the shortfall and sidelining parliament, which traditionally approves the fiscal plan.

The deficit will rise to 3.4 trillion forint ($9 billion) from 2.4 trillion forint in the original budget parliament approved in June, according to a decree published late Thursday. The government has said that will widen the budget gap to 3.9% of gross domestic product, from an initial target of 3.5%.