Mihály Varga: Reduction in budget deficit and public debt to follow restart of the economy in Hungary
EnglishAfter restarting the economy, Hungary will return to the path of reducing the budget deficit and public debt, which has already characterized the last 10 years, the Minister of Finance said on social media.
Mihály Varga emphasized that the budget provides the resources for the reduction of the deficit and debt, and also ensures coverage for subsidies. The opposition, on the other hand, believes that the government’s crisis management is based on austerity and indebtedness.
Following the restart of the economy, Hungary will return to the path of reducing the budget deficit and public debt, which has characterized the past 10 years
the Minister of Finance wrote on social media.
Mihály Varga rejected the opposition's claim that the 5.9 percent deficit target for 2022 would be an “election budget”.
If that was the case, then it would also be true to every year’s budget between 2002 and 2010
the minister said.
According to the chart added to the post, the lowest annual budget deficit under left-wing governments was 3.8 percent while the highest was 9.3 percent.
