budget - Diplomacy & Trade https://dteurope.com Monthly in print | Daily on the web Fri, 09 May 2025 05:54:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://dteurope.com/wp-content/uploads/cropped-dt_favicon-32x32.png budget - Diplomacy & Trade https://dteurope.com 32 32 Hungary’s Fiscal Council Raises Alarm Over 2026 Budget Draft https://dteurope.com/economy/hungarys-fiscal-council-raises-alarm-over-2026-budget-draft/ Fri, 09 May 2025 05:54:17 +0000 https://dteurope.com/?p=73718 Hungary’s Fiscal Council has voiced sharp concerns over the government’s 2026 draft budget, warning that it is built on overly optimistic economic forecasts and fraught with multiple financial risks. The Council pointed to low fiscal reserves, uncertainty over EU funding, and the potential impact of an intensifying US-led trade war as key vulnerabilities. The government, […]

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]]> Hungary’s Pre-Election Spending Sparks Economic and Budgetary Concerns https://dteurope.com/economy/hungarys-pre-election-spending-sparks-economic-and-budgetary-concerns/ Fri, 28 Feb 2025 04:33:44 +0000 https://dteurope.com/?p=72736 Hungary’s government has acknowledged that it is likely to miss its budget target for 2026, following a wave of pre-election fiscal promises by Prime Minister Viktor Orbán. The Economy Ministry confirmed on Thursday that the country’s budget deficit is expected to reach 3.5% of GDP, surpassing the earlier 2.9% goal, which would have brought it […]

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]]> Hungary's Economic Expansion Trails Expectations Amid Slow Recovery https://dteurope.com/economy/hungarys-economic-expansion-trails-expectations-amid-slow-recovery/ Fri, 03 May 2024 07:26:03 +0000 https://dteurope.com/?p=70143 In the latest quarterly review, Hungary's economic performance fell short of analysts' projections, underscoring the challenges of a gradual recovery from a protracted recession that continues to pressure the nation's fiscal framework. According to data released by the Budapest-based statistics office this week, Hungary's Gross Domestic Product (GDP) increased by 1.1% on an annual basis […]

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]]> Hungary Hits Pause on Investments Amid Soaring Budget Deficit https://dteurope.com/politics/hungary-hits-pause-on-investments-amid-soaring-budget-deficit/ Fri, 12 Apr 2024 07:15:13 +0000 https://dteurope.com/?p=69976 Hungary finds itself grappling with a ballooning budget deficit that has compelled the government to put a temporary halt on state investments. As the first quarter of the year drew to a close, the central budget deficit alarmingly neared the full-year target, painting a stark picture of the financial challenges facing the nation. In March […]

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]]> Hungary  signals it may support EU aid package for Ukraine https://dteurope.com/politics/hungary-signals-it-may-support-eu-aid-package-for-ukraine/ Fri, 12 Jan 2024 08:06:39 +0000 https://dteurope.com/?p=69231 After wielding its veto power at an EU summit in December to stop the proposed €50-billion fund for Ukraine, known as the Ukraine Facility, Hungary suspended a vital life-line for the war-torn country. As the EU searches for ways to revive negotiations on the package, Hungary signaled it may throw its support behind the initiative […]

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]]> Hungary aims budget deficit of 2.9% of GDP next year https://dteurope.com/economy/hungary-aims-budget-deficit-of-2-9-of-gdp-next-year/ Fri, 03 Nov 2023 07:37:08 +0000 https://dteurope.com/?p=68616 The Hungarian government has set its sights on reducing the country's budget deficit to below the European Union's threshold of 3% of GDP in the coming year. Finance Minister Mihály Varga made the announcement while presenting the 2024 budget plan to Parliament this week. As part of their strategy, the Cabinet will ease taxes on […]

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]]> Forint Extends Slide, Hit by Hungary’s Budget Woes and Rate Cuts https://dteurope.com/economy/forint-extends-slide-hit-by-hungarys-budget-woes-and-rate-cuts/ Fri, 07 Jul 2023 07:14:53 +0000 https://dteurope.com/?p=65934 The forint hit a losing streak this week, weakening to a two-month low against the euro, as investors got jittery over Hungary’s deteriorating finances and the central bank’s loosening monetary policy. Further interest rate cuts may add fuel to the fire, analysts warned. The Hungarian currency’s losses accelerated against the euro this week as markets […]

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]]> Hungary Sticks to Utility Subsidy System at a High Cost https://dteurope.com/economy/hungary-sticks-to-utility-subsidy-system-at-a-high-cost/ Fri, 07 Apr 2023 08:19:00 +0000 https://dteurope.com/?p=63078 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 […]

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]]> Hungary Budget Deficit Widens as Central Bank Urges Structural Changes https://dteurope.com/economy/hungary-budget-deficit-widens-as-central-bank-urges-structural-changes/ Fri, 13 Aug 2021 07:22:25 +0000 https://dteurope.com/?p=42677 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 […]

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]]> Hungary’s 2022 Budget Bill Reflects Election Year Is Coming https://dteurope.com/economy/hungarys-2022-budget-bill-reflects-election-year-is-coming/ Fri, 07 May 2021 07:26:40 +0000 https://dteurope.com/?p=37614 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 […]

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]]> Pandemic Forces Hungary to Modify 2021 Deficit Target https://dteurope.com/economy/pandemic-forces-hungary-to-modify-2021-deficit-target/ Fri, 16 Apr 2021 06:55:11 +0000 https://dteurope.com/?p=34144 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 […]

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]]> Ballooning Deficit https://dteurope.com/business/ballooning-deficit/ Fri, 28 Aug 2020 07:15:23 +0000 https://dteurope.com/?p=23604 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 […]

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