Deficit of the central budget was 1.9% of the GPD in 2015, an all-time low, National Economy Minister Mihály Varga cited figures from the Central Statistical Office. State debt fell to 75% of the GDP. The gov't is planning to a balanced budget when it submits the 2017 budget draft to Parliament in a few weeks.
Deficit of the central budget was Ft 625 billion, down from Ft 739 billion in 2014, as budget revenues rose 7.7%. Tax revenues were Ft 550 billion higher than initially planned. The crackdown on tax evasion, the increase in employment, the stable state of the economy contributed to the favourable figure, Mr. Varga said, pointing out the pharmaceutical, vehicle sectors and the food industry. The state debt fell to HUF 25.3 trillion, or 75.3% of the GDP. The share of foreign-exchange debt declined 4.5 percentage point to 35.3%. The government is committed to cut the defiict and debt further. The government is planning a balanced budget for 2017, in which the state can not spend more money on its operations than its reveneues.
