Hungary to Miss Budget Target With GDP Contraction, Survey Shows
- Shortfall may be 4.3% of GDP this year compared with 3.9% goal
- Meeting budget target will be “hardest task,” minister says
The assembly line at a factory in Tatabanya, Hungary.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Hungary’s budget deficit will exceed the government’s target this year as an economic contraction challenges fiscal policy, according to a Bloomberg News survey.
The shortfall will be 4.3% of gross domestic product, exceeding the government’s 3.9% target and the median estimate of 4.1% made by economists in the second quarter, according to the Bloomberg poll. The economy will shrink 0.3% for the year compared with 2022, worse than the previous estimate that saw 0.2% growth and the government goal for 1.5% expansion.