The minister in charge of the Prime Minister's Office announced this week that the government will maintain its policy of keeping utility prices subsidized at least until the end of December. At the same time, analyst warn that the subsidy system is putting a heavy strain on public finances. Gergely Gulyás, the minister in charge […]

Hungary’s budget deficit continued to widen on government stimulus measures, reaching nearly half of the increased annual target by the end of July. Meanwhile, the head of the nation’s central bank warned that a global economic crisis was looming large on the horizon and the government needs to undergo structural changes to respond to the […]

The Hungarian government argues that next year’s budget bill, submitted earlier this week, is aimed at relaunching the economy. However, the bill has come under heavy fire from the Fiscal Council, the National Bank of Hungary and opposition parties for being an election-year budget designed to support key voting groups. Hungary’s 2022 budget targets economic […]

Hungary’s budget deficit widened at an alarming pace in the first three months of 2021, prompting the Finance Ministry to modify the year-end target. Economists are concerned that the severeness of the pandemic will force the government to repeatedly review its forecasts for the year as the economic impact of the epidemic is set to […]

The bigger than expected decline in Hungary’s economic output has dealt a significant blow to the government’s budget plan for 2020. As a result of the weak GDP data in the second quarter and further restrictive measures made necessary by the second wave of the epidemic, the Finance Ministry was forced to revise its budget […]