Next Year’s Draft Budget Submitted to Fiscal Council Includes 3.5% Deficit Target


The draft budget for next year submitted to the Fiscal Council sets a stricter deficit target of 3.5% of GDP and the public debt level of 73.8%, Mihály Varga, the finance minister, said on Friday.


Varga said in a comment posted on social media that the government’s aim was to create a crisis-proof economy. The economy is expected to grow by 4.1% in 2023, he said. The minister said the government is establishing a special protection fund as a bulwark against the effects of the war and the related European Union sanctions, as well as higher energy prices.


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