Finance Minister hails lower than 2022 deficit

Hungary's public finance deficit narrowed in 2023 from 2022, Finance Minister Mihaly Varga said on Tuesday, after receiving the first aggregates of budget data from last year.

Varga also hailed that revenues in corporate tax totalled 1,013 billion forints (EUR 2.6bn), over the target, which he said was “another sign of favourable changes in economic trends”.

State debt relative to GDP continued to decline, Varga said, adding that data from the Central Statistical Office were to be received to determine the final figure.

“In 2024, we will continue to reduce the deficit and state debt with the start of stronger economic growth,” he said.

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