Hungary Probably Missed Budget Goal Again in 2024, Ministry Says

Hungary probably overshot its budget deficit goal last year after the nation re-entered a recession, according to Economy Ministry estimates.

The shortfall probably came in at about 4.8% of gross domestic product, compared with an already upwardly revised target of 4.5%, according to a ministry statement on Thursday. The government still intends to meet its 3.7% deficit goal this year, it said, adding that last year’s data was a marked improvement from the 6.7% deficit level recorded in 2023.