Inherited Fiscal Chaos: New Government Says True Deficit Hit 8.3%
6 Articles
6 Articles
Inherited fiscal chaos: new government says true deficit hit 8.3%
This year's budget inventory has been completed; according to the schedule, the new deficit target will be set at the end of August and a comprehensive legislative amendment covering 2026 will be submitted, while the 2027 budget and a medium-term fiscal plan will be submitted by the end of October, the finance minister said at a background briefing in Budapest on Wednesday.
The government of Viktor Orban has left Hungary with a real deficit of 8.3%, compared to 3.7% as forecast. This is the largest in the EU, surpassing Romania, which occupies the first position, with 7.9%.
The Ministry of Finance found 400 billion forints of extra expenses that were not included in the budget. The post This is how big the deficit would be if Fidesz remained in power – András Kármán revealed dramatic data first appeared on 24.hu.
The review of the Orbán government's patchwork budget for 2026 has been completed; without the change of government, the deficit would have been 8.3 percent of GDP. A new budget is expected by the end of August, and the Ministry of Finance, led by András Kármán, hopes that the deficit will eventually stop at 7.5 percent.
The 2026 budget inventory has been completed, and according to the Ministry of Finance, the expected deficit has decreased - The 2027 budget draft will be submitted by the end of October.
According to the Ministry of Finance, without a change of government, the public deficit would have increased to 8.3 percent of GDP in 2026. Minister of Finance András Kármán presented the budget inventory at a background discussion, based on which the government will determine the new deficit target at the end of August. The 2027 forecast also includes the 14th month pension, the tax exemption for mothers and the Home Start Program, but accordi…
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