Daily News Hungary economy

Budapest, August 24 (MTI) – The government will be able to meet its targeted 2 percent ESA deficit goal for 2016 and may even see a lower deficit of 1.6 percent, the National Bank of Hungary said on Wednesday in its Budget Report.

The bank calculated that the central budget could have a 1.8 percent deficit this year, which would also translate into a 1.8 percent ESA deficit. If however the full amount of budget reserves, including the country protection fund, would be spent on improving the budget, then the deficit could be as low as 1.6 percent of GDP.

The 2016 budget bill currently targets an ESA deficit of 704 billion forints (EUR 2.27bn) but the NBH calculates that this could be lowered to 561 billion forints, representing a 0.4 percentage point of GDP change to the original deficit figure.

Source: MTI

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