Finance minister Mihaly Varga – Photo: MTI

Finance minister: Public debt fell faster than projected

Public debt fell faster than projected last year and the deficit target was fulfilled, the finance minister said on Tuesday.

Mihaly Varga said on Facebook that public debt was 73.5 percent of GDP last year as against 76.8 percent in 2021.

The budget deficit was 4.9 percent of GDP, in line with plans, or 6.1 percent taking into consideration natural gas reserves, he added.

Balance indicators are expected to continue improving this year, with projections of decreasing public debt and lower deficit, he said.

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