Finance minister: Deficit, state debt to fall further — UPDATE
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The government will continue to improve budgetary balance, and expects to have budget deficit down at 4.9 percent and state debt at 76.1 percent of GDP by the end of the year, Mihály Varga, candidate for finance minister, told parliament’s budgetary committee on Thursday.
The budget will have to be amended to maintain deficit target, in view of the changes to the economic environment due to high inflation, rising energy prices and the war in Ukraine, he said.
The government aims to preserve stability, keep the economy on a safe growth path and protect earlier achievements such as family allowances,
Varga said.
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The draft budget for 2023 will be submitted early next month, he said, with an estimated growth of 3-4 percent of GDP and the deficit expected to fall to around 3.5 percent and state debt to 73.8 percent of GDP, he said. Responding to a question, Varga said
