Posted 1/1/2024, 2:42:22 PM
Hungary Seen Overshooting 2023 Budget Deficit Target, Raising Concerns Over Future Fiscal Slippage
- Hungary will overshoot 2023 budget deficit target by 0.7 percentage points, hitting 5.9% of GDP instead of 5.2%
- Raises doubts about meeting the 2024 deficit target of 2.9% of GDP
- Latest fiscal slippage after years of overshooting deficit targets
- Government plans to keep investment rate above 25% of GDP and increase employment rate to 85%
- Meeting 2023 deficit target would hurt economic growth according to economy ministry head