Articles by #hashtag

budget deficit

8 hits

Deteriorating Trade and Deficit Figures in Hungary

May 9, 2022

By the end of April, 83% of the full-year deficit of HUF 3,152.7 billion planned for the public finances had been reached in Hungary. The value of Hungarian exports was 8.7% and that of Hungarian imports 23% larger in EUR terms in March 2022 than in the same period of the previous year. According to […]

Hungary’s Top Banker Sees Need for Severe Austerity Measures

Apr 29, 2022

Sándor Csányi, chairman of Hungary’s largest commercial bank OTP, warned that the Hungary needs a budget adjustment of up to HUF 1,700 billion. The war in the Ukraine, international energy prices and the outcome of Hungary’s standoff with the European Union will decide the exact extent and nature of the budget adjustment, according to Csányi. […]

Hungary's State Deficit Amounted to 6.8% of GDP in 2021

Apr 1, 2022

According to preliminary data the deficit of the general government sector in 2021 was HUF 3,736 billion, 6.8% of GDP. The balance improved year-on-year by HUF 25 billion, or by 1.0 percentage points as a proportion of GDP. Hungary's Central Statistical Office reported the data to Eurostat, the Statistical Office of the EU, in compliance […]

Hungary Posts Record Budget Deficit on Pre-Election Spending

Dec 10, 2021

Hungary’s November government deficit broke an all-time record, boosted by a government spending spree to win re-election next spring. Economists fear that the upcoming general election will put the much-needed fiscal consolidation on hold. Hungary recorded an unprecedented monthly budget shortfall of HUF 1,009 billion in November, according to preliminary information published by the Ministry […]

Hungary’s Massive FX Debt Sale Signals EU Row May Drag On

Sep 17, 2021

Hungary raised the equivalent of EUR.4. billion in foreign-currency bonds this week in one of the largest FX debt issuance in the country’s history. The move suggests the government expects the dispute with the European Union over funding to drag on. Hungary sold USD 2.25 billion in 10-year dollar bonds, USD 2 billion in 30-year […]

Hungary Posts Significant Budget Shortfall in May

Jun 11, 2021

Despite lifting many of the pandemic-related restrictions, Hungary’s central budget posted a significant shortfall in May. Expenditures are mounting on a new set of measures to re-start the economy. In May, the central budget booked a deficit of HUF 269 billion, pushing the shortfall in the first 5 months of the year to HUF -1,312.6 […]

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