Finance Minister Mihaly Varga – Photo: MTI

Finance Minister: Public debt shrinking faster than EU average

The rate at which Hungary's public debt will fall in the coming years will be twice the EU average, Mihaly Varga, the finance minister, said on Friday.

Hungary’s public debt-GDP ratio will decline to 63.1 percent by 2026 compared with 76.8 percent at the end of last year, Varga said on Facebook.

The EU average is forecast to drop to 84.1 percent in four years’ time from 90.3 percent in 2021, he said.

“Our aim is to make the economy crisis-proof,” he said, adding the government would continue to improve the balance indicators, budget deficit and public debt.

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