The finance ministry on Tuesday submitted to parliament the amendment to the 2021 budget on continued allocation of funds for coronavirus protection and economic recovery measures, the ministry said in a statement.
The bill also covers the home purchase scheme announced last autumn and increases in health-care, family support and local government funding, it said.
Since the approval of this year’s budget, the coronavirus pandemic warranted significant changes in economic measures and decisions, the ministry said.
Under the amendment, Hungary’s deficit target is at 7.5 percent (from 2.9 percent). This will allow a reduction of state debt to 79.9 percent of GDP by the end of 2021 from 80.4 percent in 2020.
The amendment projects a 4.3 percent economic growth in 2021, the statement said.
A parliamentary vote on the amendment is expected during the spring session, the ministry said.
In the featured photo: finance minister Mihály Varga. Photo by Noémi Bruzák/MTI