Breaking: Excessive deficit procedure launched against Hungary
An excessive deficit procedure will be launched against 7 EU countries, including Hungary, following a Commission decision, the Ministry of Finance confirmed. The ministry, headed by Mihály Varga, said that there is no need to react to the procedure with immediate measures, as the deficit in Hungary will be below 3% by 2026.
Excessive deficit procedure to be launched
Hungary will also be subject to an excessive deficit procedure in the near future, ATV.hu has learned from the Ministry of Finance. “Based on the European Commission’s decision, an excessive deficit procedure will be launched against seven countries, so it is not only Hungary,” the ministry, headed by Mihály Varga, confirmed to ATV.
The ministry added that member states do not need to react to the procedure with immediate measures: the budget deficit should be reduced gradually. The press department of the Ministry of Finance told ATV that the deficit could be 4.5% in 2024, and will be reduced to 3.7% next year and below 3% in 2026.
The European Commission announced in mid-June that it could launch an overspending procedure to prevent countries from ending up in a situation similar to the one that started in 2008, Telex writes.
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Why is there a deficit? Primarily because of the war in Ukraine, which THEY insist on continuing ad infinitum.
Now they want us to borrow money from the I.M.F. and similar vultures to reduce the deficit, which they can then use as a lever to control Hungary’s domestic politics.
Take a hike, E.U.
The “Pot of Gold” under Sanctions, held by the European Union – through the War commenced by Russia on the Ukraine – the “beautiful” latin word MEMORARE – translated to English meaning – REMEMBER.
Steiner Michael – REMEMBER or didn’t your intellectual capacity allow you to “be of knowledge” – before you LOSELY again “mouthed off”.
Why is there a deficit? Could it be all the excessive costs (3X) for building infrastructure and for other things so that the government’s friends can stuff their pockets?
Unfortunately, it is impossible to fire van der Leyen. Ursula will continue to maul, kiss and hug her crush Zelensky for another 5 years.
Those of the TLDR persuasion can skip straight to Annex 21:
https://economy-finance.ec.europa.eu/system/files/2023-06/ip241_en.pdf
@michaelsteiner – of course, it is only Hungary that is impacted by the war in Ukraine… We are so special!
And .. Let´s buy another airport! That always helps, it is known.