Hungary is an export-driven economy where trade surpluses are the norm.Continue reading
Hungary’s cash-flow-based budget deficit, excluding local councils, was 3,931.3 billion forints (EUR 10.7bn) at the end of November, the finance ministry said in a preliminary release on Wednesday.
The deficit widened by 1,009.1 billion forints from a month earlier.
“Government measures to protect families, reduce taxes and offer investment incentives have helped the economic recovery to a large degree and mitigated the negative effects of external factors,” the ministry said.
“The Hungarian economy grew by 6.1 percent in the third quarter, and [Hungary] remains at the forefront of the European Union in terms of its investment rate, while the number jobholders has come close to 4.7 million people,” it added.
In the featured photo: Finance Minister Mihály Varga. Photo by Tamás Kovács/MTI