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Hungary: Budget Targets Endangered to Fail
Politics ♦
Published: October 1, 2012; 18:50 ♦ (Vindobona)
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In August, Hungary´s budget deficit has almost reached the full year´s level. Analysts doubt whether Hungary may achieve a 2.5% budget deficit this year.
Hungary: Budget Targets Endangered to Fail / Picture: © Vindobona.org
According to Hungary´s Economy Ministry, the budget deficit grew substantially last month. Nevertheless, Hungary´s Prime Minister Viktor Orban emphasizes that public debt must be pushed below 50% of GDP.
At the moment, the country´s public debt quota is at 79%. The income tax rate reaches 16%. However, government spending is relatively high (48.7%). Orban emphasized that…
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