The deficit of the central sub sector of the state budget closed the year 2015 much better than expected, with 1.9 percent of GDP, Minister for National Economy Mihaly Varga commented Central Statistical Office (KSH) data Friday.
“The favourable deficit figure was the result mainly of the performance of Hungary’s economy and the success of economic policy measures”, Mr Varga said. The debt rate has also declined further, shedding 0.9 percentage points since 2014 and hitting 75.3 percent of GDP. The share of forex debt within the total volume fell by 4.5 percentage points to 35.3 percent, thus the financing of the state budget has become sounder, more predictable and balanced, he stressed.
