Orban Lays Out Plans to Narrow Hungary Budget Deficit Next Year
- Cabinet hands in next year’s draft fiscal plan to parliament
- Shortfall widens further in October, cash-flow data shows
The Hungarian parliament building in Budapest.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
The Hungarian government pledged to further reduce the budget deficit next year, according to the draft plan presented to parliament on Monday, with a recession and upcoming elections creating a continued risk of overshoots.
The cabinet is targeting a shortfall of 3.7% of gross domestic product after this year’s 4.5% goal, according to the draft Finance Minister Mihaly Varga filed to parliament on Monday. It’s based on projections for 3.4% annual economic growth.