Hungary's budget deficit widened by more than 1,000 billion forints (EUR 2,7 billion) in November, meaning that the government now postpones projects worth a total of 350 billion forints.Continue reading
The finance ministry says it expects the economy will grow by 5.9 percent next year.
The 2022 budget law targets growth of 5.2 percent, but government measures are expected to lift consumption, according to a ministry forecast for the 2021-2025 period published on Wednesday.
Household consumption in 2022 is likely to increase by 6.7 percent, up from 3.6 percent expected this year.
Personal income tax forgiveness for young employees and a rebate for households with children, as well as a pension supplement, among other measures, may add 1.63 percentage points to GDP growth next year, the ministry said.
featured image illustration via Tibor Illyés/MTI