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HUF 57.5bln Budget Deficit Projected in 2023

HUNGARY
  • The Budapest General Assembly adopted the 2023 budget on Wednesday, projecting 407.8 billion forints (EUR 990.3m) in revenues and 465.3 billion in expenditures, MTI report. The deficit will be covered from loans, bonds and revenues from bank deposits. The draft pointed to rising government contributions, rising energy and food prices, wage pressure due to inflation and the "consequences of monetary policy" as the main difficulties in 2023.
  • Hungary's current account had a EUR 1.556bn deficit in October, preliminary monthly data released by the National Bank of Hungary this morning shows.
  • MTI reported yesterday that Hungary and Qatar have reached an agreement paving the way for talks on future gas purchases between state-owned energy company MVM and QatarEnergy, according to the minister of foreign affairs and trade Szijjarto.
  • There are no major economic releases or speakers scheduled today.

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