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Hungarian state debt will continue to decline this year and the budget deficit will be below the 2 percent of gross domestic product (GDP) earlier expected. Economic growth is expected to reach 2.5-3 percent in 2016
The Hungarian Minister for National Economy Mihály Varga presented Hungary’s 2017 budget plan on Tuesday. The core message signals predictability and stability to investors, while maintaining the government’s popular “one step ahead” policy, especially for families. The budget plans for 3.1 percent GDP growth, a falling debt-to-GDP ratio and a deficit of 2.4 percent.
Yes, the loan is paid off. Commenting last week on the good news, Prime Minister Orbán said that “Every Hungarian family has a good reason to open a good bottle of red wine tonight and drink to the health of the country because yesterday we succeeded in settling the old debt that the previous government took on in 2008."