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End-Q3 Budget Deficit Reaches 3.7% of GDP

HUNGARY
  • Hungary's government sector had a HUF701bln deficit in the third quarter of 2023, equivalent to 3.7% of GDP, preliminary data released by Hungarian statistics office showed this morning. As a reminder, the Finance Ministry last week raised the targeted shortfall for 2023 to 5.9% of GDP from 5.2% earlier, which had already been revised upward from the original goal of 3.9% of GDP.
  • Hungary has received another EUR 445m in European Union funding, Finance Minister Varga said on Facebook on Tuesday. This latest transfer and the EUR 779.5m in recovery funding received last week bring the total funding received by Hungary in recent days to EUR 1.23bln, Varga said.
  • There are no local economic releases left on the docket today, with trade balance, PPI and unemployment rate data all set to cross later in the week.

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