Free Trial

Hungary Still Reviewing 2023 Budget Gap Goal, FinMin Says

HUNGARY

Highlights of Finance Minister Varga's comments at a conference titled "Focus on the forint - Economic Policy and Investment Challenges in 2024" (via local newspaper Világgazdaság):

  • The current account is improving dynamically and is currently in surplus, which is why the danger of excessive deficits, considered one of the biggest fears by credit rating agencies, is becoming more and more important.
  • The Ministry of Finance and the Central Bank agree on one thing: inflation must be reduced. Regarding the past, there was no complete agreement on these issues.
  • Real wages may begin to increase from September.
  • Hungary is committed to reducing budget deficit to 2.9% of GDP in 2024. Still deciding on upward revision to 3.9% of GDP of deficit target for 2023.
  • On EU funds, he emphasised: we expect them to arrive, but the issue is not an economic one, but a political one.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.