Finance Min: GDP expected at 5% gowth, deficit target at 4.9% by 2022
The finance ministry is calculating with a GDP growth over 5 percent next year, making it possible to reduce the budget deficit target to 4.9 percent, Finance Minister Mihály Varga said on Friday.
The ministry and the Government Debt Management Agency (AKK) presented a plan calculating a net financing requirement for 2022 of 3,153 billion forints (€ 8.5 billion), covered by 2,663 billion forints (€ 7.4 billion) in bonds and by drawing on 489 billion forints (€ 1.36 billion) of 2021 liquidity reserves, he said.
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Funding will be covered by issuance of 1,000 billion forints (€ 2.78 billion) in forint bonds, 1,000 billion in retail bonds and 406 billion forints in foreign currency bonds, he said.
In addition, 258 billion forints of treasury bills will be issued to finance the deficit, he said.
In order to push back the maturity date of the debt and to improve its structure, the government will renew successful programmes such as the green bond framework, retail bonds sales and swap auctions, he said.
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Varga said budget financing was stable and covered government measures such as family tax rebates, personal income tax exemptions for those under 25, the 13-month pension, wage increases, and the 750 billion forint (€ 2.1 billion) reduction in taxes on labour.
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Source: MTI
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3 Comments
“family tax rebates, personal income tax exemptions for those under 25, the 13-month pension, wage increases, and the 750 billion forint (€ 2.1 billion) reduction in taxes on labour”=ELECTIONS BRIBES.
This is sadly another example of the – “Fabrication of the Trurth” – that has come out – Communicated – to the Citizens of Hungary – by the Finance Minister -that attempts, to “paint a picture” of the Hungarian Economy – moving forward – that is NOT – at this point of time in Hungary – Factually Achievable.
Hungary – we are living in the greatest challange to civalization of the past century.
Hungary – post February 2020 – life has RADICALLY changed – Europe has changed – Britain has changed – the World has BEEN forced to Change.
These changes – ain’t over yet and to example this – we have Omicron still not at it’s – ZENITH – of impact on Hungary and the World – that is just one indicator – of the Vulnurability – of the Global World – we Hungary are part of.
Hungary – the ongoing methodical examination – of the “Core” componentry – to evaluate the present and predicting the Future of a Country’s – Economic & Financial performance – its Capabilities, for Hungary, these key indicators – are Trending in direction – that places Hungary – Economically & Financially – in a position that clearly suggests – Hungary is in a Financial & Economic Crisics.
Hungary – we must not be Blinded, by this Fabrication of Truth rhetoric – that is just not Political Spin nor aimed at the upcoming gaining of votes & support, for the April/May – National Elections.
It is a Major part of the DNA – of our present Government, that sadly, over the past (10) ten years – we have ALLOWED – to fester, grow continuing in its path, a process of – Infestation – into wider & broader areas and catagory’s of Hungarian life.
December 2021 – this “Fabrication of Truth” statement, made by the Minister of Finance – we have or are expected to “Feed ” off it – taking us out of the darkening black tunnel, that is sadly at present – the Economic & Finacial position of Hungary.
That is a FACTUAL – honest driven by Candour – we Hungary are in a DARK place- Economically & Financially.
The present Government – in recomendations, from the Govenor of Hungarys Central Bank – Gyorgy Matolcsy, put the present Government – “on notice” – been building his platform over many months – that the Government of Hungary – NEEDS – immediate change(s) – to its Economic & Financial – Strategies and Direction.
The words of wisdom, through intellectual ability, comprehending and putting into action, through the knowledge & wisdom that Gyorgy Matolcsy – has worked on and gained over decades – the Rightful Respect – he is Given – his recomendations to the present Government of Hungary – to – Rebalance & Restructure – sadly continues to be IGNORED.
Nothing in Hungary – will get Cheaper – but singling on the vileness of wrong – the overvaluation of Property – the broadsheet Property arena of Budapest, Hungary – it NEEDS – a massive – readjustment of lower prices, to ASSIT – if we are to see “light” at the end of this darkening tunnel.
“Truth is our Strongest Form of Defence” = and in our History – the MASSIVE changed world post February 2020 – we Hungary – are part of – we need from POLITICIANS – that what comes out there Mouths – is Truth.
If we as Citizens challange statements – that Fabricate the Truth – like the composition and subject matter of this artical, communicated by the Finance Minister of Hungary – we as Citizens under Democracy – must let our OPINION(s) – be Heard – that may – by our orderly actions of objection – let a flicker of light into that darkening black tunnel – Financial & Economic – that we – FACTUALLY – at present = Hungary are in.
Merely pulling the wool over our eyes. Throw in lots of figures, growth predictions and hopefully confuse us all. With all the election bribes more money is going out than coming in. Anyone with half a brain will see the figures don’t add up. The important word they’ve used is ‘expected’ so their calculations are not based on fact but more on ‘fingers crossed’.